Home Insurance in Elizabeth, Minnesota
Homes in Elizabeth carry a median value of $117,500 - 57% lower than the Otter Tail County median.
The typical home in Elizabeth was built around 1956. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 55% of homes were built before 1960, about 28 points above Otter Tail County's 27%.
In Elizabeth, the housing stock is 82% single-family homes and 15% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Elizabeth, about 49% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Elizabeth has an owner-occupancy rate of 87% and a vacancy rate of 26%; unoccupied homes typically need a different coverage form.
Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 67% of homes in Elizabeth are primarily heated with propane.
Otter Tail County's top FEMA-rated hazard is winter weather (Very High), per FEMA's National Risk Index. Otter Tail County had 7 active NFIP flood policies as of September 2026. See the full Otter Tail 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 | $117,500 |
|---|---|
| Median year built | 1956 |
| Owner-occupied share | 87% |
| Share of owner-occupied homes with a mortgage | 49% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Otter Tail County | 7 |
| 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)