Home Insurance in Parkers Prairie, Minnesota
Homes in Parkers Prairie carry a median value of $168,500 - 38% lower than the Otter Tail County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Parkers Prairie was built around 1968. About 42% of homes were built before 1960, about 15 points above Otter Tail County's 27%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Parkers Prairie is 81% single-family homes, 9% apartments in buildings with 5+ units and 6% mobile or manufactured homes.
About 52% of owner-occupied homes in Parkers Prairie have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 74% of occupied homes in Parkers Prairie are owner-occupied. The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
32% of homes in Parkers Prairie are primarily heated with propane. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
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.
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 | $168,500 |
|---|---|
| Median year built | 1968 |
| Owner-occupied share | 74% |
| Share of owner-occupied homes with a mortgage | 52% |
| 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)