Home Insurance in Farwell, Michigan
With a median home value of $98,700, Farwell is 26% lower than the Clare County median.
The typical home in Farwell was built around 1973. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 30% of homes were built before 1960, about 8 points above Clare County's 22%.
In Farwell, the housing stock is 69% single-family homes, 17% apartments in buildings with 5+ units and 10% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Farwell, about 65% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 69% of occupied homes in Farwell are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
73% of homes in Farwell are primarily heated with natural gas.
Clare County had 39 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is strong wind (Relatively High). See the full Clare County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Michigan is $1,110 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $98,700 |
|---|---|
| Median year built | 1973 |
| Owner-occupied share | 69% |
| Share of owner-occupied homes with a mortgage | 65% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Clare County | 39 |
| Home insurance premium | $1,110 - 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)