Home Insurance in Deephaven, Minnesota
Homes in Deephaven carry a median value of $935,900 - 138% higher than the Hennepin County median.
The typical home in Deephaven was built around 1969. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 42% of homes were built before 1960, about 6 points above Hennepin County's 36%.
In Deephaven, the housing stock is 89% single-family homes, 6% apartments in buildings with 5+ units and 2% mobile or manufactured homes.
In Deephaven, about 64% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 6%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 89% of occupied homes in Deephaven are owner-occupied.
Most homes in Deephaven - 83% - are primarily heated with natural gas.
Hennepin County had 959 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is tornado (Very High). See the full Hennepin 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 Minnesota carries a statewide average premium of $1,988 per year.
Key figures
| Median home value | $935,900 |
|---|---|
| Median year built | 1969 |
| Owner-occupied share | 89% |
| Share of owner-occupied homes with a mortgage | 64% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Hennepin County | 959 |
| Home insurance premium | $1,988 - 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)