Home Insurance in Lake Benton, Minnesota
With a median home value of $99,800, Lake Benton is 39% lower than the Lincoln County median.
The typical home in Lake Benton was built around 1961. About 50% of homes were built before 1960, about 1 point below Lincoln County's 51%. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing.
Housing in Lake Benton breaks down to 84% single-family homes, 13% apartments in buildings with 5+ units and 1% mobile or manufactured homes.
About 49% of owner-occupied homes in Lake Benton have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Lake Benton has an owner-occupancy rate of 74% and a vacancy rate of 14%; unoccupied homes typically need a different coverage form.
Most homes in Lake Benton - 65% - are primarily heated with propane. Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
Lincoln County's top FEMA-rated hazard is hail (Relatively Moderate), per FEMA's National Risk Index. Lincoln County had 2 active NFIP flood policies as of September 2026. See the full Lincoln County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Minnesota, the statewide average premium for a standard HO-3 homeowners policy is $1,988 per year (NAIC, 2023 data).
Key figures
| Median home value | $99,800 |
|---|---|
| Median year built | 1961 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 49% |
| Top county hazard | Hail (Relatively Moderate) |
| Active NFIP policies in Lincoln County | 2 |
| 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)