Home Insurance in Prescott, Michigan
The median home value in Prescott is $68,800, 56% lower than the Ogemaw County median.
The typical home in Prescott was built around 1970. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 37% of homes were built before 1960, about 11 points above Ogemaw County's 26%.
The housing stock in Prescott is 91% single-family homes and 9% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
40% of owner-occupied homes in Prescott carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 91% of occupied homes in Prescott are owner-occupied. The vacancy rate is 30%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Prescott, 76% of homes are primarily heated with propane.
Ogemaw County's top FEMA-rated hazard is hail (Relatively Moderate), per FEMA's National Risk Index. Ogemaw County has no active NFIP flood policies on file. See the full Ogemaw County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Michigan carries a statewide average premium of $1,110 per year.
Key figures
| Median home value | $68,800 |
|---|---|
| Median year built | 1970 |
| Owner-occupied share | 91% |
| Share of owner-occupied homes with a mortgage | 40% |
| Top county hazard | Hail (Relatively Moderate) |
| 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)