Home Insurance in Spencer County, Indiana
Homes in Spencer County carry a median value of $185,200 - 15% lower than the Indiana median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Spencer County was built around 1979. About 28% of homes were built before 1960, about 3 points below Indiana's 31%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Spencer County is 82% single-family homes, 3% apartments in buildings with 5+ units and 11% mobile or manufactured homes.
59% of owner-occupied homes in Spencer County carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 81% of occupied homes in Spencer County are owner-occupied.
42% of homes in Spencer County are primarily heated with natural gas. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA's National Risk Index lists earthquake (Relatively Low), strong wind (Relatively Moderate) and hail (Relatively Low) as the leading hazards for Spencer County. Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
As of September 2026, Spencer County has 87 active NFIP flood insurance policies. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Indiana carries a statewide average premium of $1,259 per year.
Key figures
| Median home value | $185,200 |
|---|---|
| Median year built | 1979 |
| Owner-occupied share | 81% |
| Share of owner-occupied homes with a mortgage | 59% |
| Top hazards (FEMA National Risk Index) | Earthquake (Relatively Low), Strong Wind (Relatively Moderate), Hail (Relatively Low) |
| Active NFIP flood policies (county) | 87 |
| Home insurance premium | $1,259 - statewide average (NAIC, 2023 data) |
Towns and cities
Sources
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)