Home Insurance in Morgan, Minnesota
The median home value in Morgan is $117,400, 26% lower than the Redwood County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Morgan was built around 1963. About 47% of homes were built before 1960, about 2 points above Redwood County's 45%.
The housing stock in Morgan is 79% single-family homes, 17% apartments in buildings with 5+ units and 4% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Morgan, about 53% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Morgan has an owner-occupancy rate of 78% and a vacancy rate of 6%; unoccupied homes typically need a different coverage form.
Homes heated with fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. Most homes in Morgan - 63% - are primarily heated with natural gas.
Redwood County had 4 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is winter weather (Relatively Moderate). See the full Redwood County home insurance overview for all FEMA hazard ratings and flood coverage details.
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 | $117,400 |
|---|---|
| Median year built | 1963 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 53% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Redwood County | 4 |
| 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)