Home Insurance in Lake of the Woods County, Minnesota
With a median home value of $216,100, Lake of the Woods County is 34% lower than the Minnesota median.
The typical home in Lake of the Woods County was built around 1986. About 17% of homes were built before 1960, about 12 points below Minnesota's 29%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Lake of the Woods County is 66% single-family homes, 6% apartments in buildings with 5+ units and 26% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 42% of owner-occupied homes in Lake of the Woods County have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 48%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 82% of occupied homes in Lake of the Woods County are owner-occupied.
46% of homes in Lake of the Woods County are primarily heated with propane. Homes heated with propane and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
FEMA's National Risk Index lists wildfire (Very Low), winter weather (Relatively Low) and inland flooding (Very Low) as the leading hazards for Lake of the Woods County.
Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy. As of September 2026, Lake of the Woods County has 60 active NFIP flood policies on file.
The statewide average premium for a standard HO-3 homeowners policy in Minnesota is $1,988 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $216,100 |
|---|---|
| Median year built | 1986 |
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 42% |
| Top hazards (FEMA National Risk Index) | Wildfire (Very Low), Winter Weather (Relatively Low), Inland Flooding (Very Low) |
| Active NFIP flood policies (county) | 60 |
| Home insurance premium | $1,988 - statewide average (NAIC, 2023 data) |
Towns and cities
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)