Home Insurance in Richville, Minnesota
Homes in Richville carry a median value of $156,300 - 43% 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 Richville was built around 1977. About 44% of homes were built before 1960, about 17 points above Otter Tail County's 27%.
The housing stock in Richville is 68% single-family homes and 32% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Richville, about 27% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Richville has an owner-occupancy rate of 50% and a vacancy rate of 35%; unoccupied homes typically need a different coverage form.
Most homes in Richville - 86% - 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.
What's the biggest home insurance risk near Richville? FEMA's National Risk Index points to winter weather (Very High) in Otter Tail County and 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 | $156,300 |
|---|---|
| Median year built | 1977 |
| Owner-occupied share | 50% |
| Share of owner-occupied homes with a mortgage | 27% |
| 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)