Home Insurance in Bessemer, Michigan
The median home value in Bessemer is $69,900, 35% lower than the Gogebic County median.
The typical home in Bessemer was built around 1943. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 71% of homes were built before 1960, about 14 points above Gogebic County's 56%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Bessemer is 80% single-family homes, 9% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
In Bessemer, about 51% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 27%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 72% of occupied homes in Bessemer are owner-occupied.
Most homes in Bessemer - 74% - are primarily heated with natural gas.
FEMA rates Gogebic County's overall risk as Very Low, led by winter weather (Relatively Moderate). Gogebic County had 13 active NFIP flood policies as of September 2026. See the full Gogebic County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Michigan, the statewide average premium for a standard HO-3 homeowners policy is $1,110 per year (NAIC, 2023 data).
Key figures
| Median home value | $69,900 |
|---|---|
| Median year built | 1943 |
| Owner-occupied share | 72% |
| Share of owner-occupied homes with a mortgage | 51% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Gogebic County | 13 |
| 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)