Home Insurance in Richmond, Louisiana
Homes in Richmond carry a median value of $161,400 - 68% higher than the Madison Parish median.
The typical home in Richmond was built around 1991. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 6% of homes were built before 1960, about 23 points below Madison Parish's 29%.
The housing stock in Richmond is 80% single-family homes and 19% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
43% of owner-occupied homes in Richmond carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
The vacancy rate is 15%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 86% of occupied homes in Richmond are owner-occupied.
In Richmond, 57% of homes are primarily heated with electricity.
Madison Parish had 282 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively Moderate). See the full Madison Parish home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Louisiana is $3,027 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $161,400 |
|---|---|
| Median year built | 1991 |
| Owner-occupied share | 86% |
| Share of owner-occupied homes with a mortgage | 43% |
| Top county hazard | Strong Wind (Relatively Moderate) |
| Active NFIP policies in Madison Parish | 282 |
| Home insurance premium | $3,027 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- 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)