Home Insurance in Big Falls, Minnesota
Homes in Big Falls carry a median value of $67,500 - 57% lower than the Koochiching County median.
The typical home in Big Falls was built around 1965. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. About 44% of homes were built before 1960, about 11 points above Koochiching County's 32%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Big Falls is 71% single-family homes, 19% apartments in buildings with 5+ units and 5% mobile or manufactured homes.
About 34% of owner-occupied homes in Big Falls have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Big Falls has an owner-occupancy rate of 74% and a vacancy rate of 35%; unoccupied homes typically need a different coverage form.
35% of homes in Big Falls are primarily heated with propane. Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA rates Koochiching County's overall risk as Very Low, led by inland flooding (Relatively Low). Koochiching County had 22 active NFIP flood policies as of September 2026. See the full Koochiching County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
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 | $67,500 |
|---|---|
| Median year built | 1965 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 34% |
| Top county hazard | Inland Flooding (Relatively Low) |
| Active NFIP policies in Koochiching County | 22 |
| 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)