Home Insurance in Hancock, Minnesota
The median home value in Hancock is $98,800, 51% lower than the Stevens 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 Hancock was built around 1962. About 48% of homes were built before 1960, about 13 points above Stevens County's 35%.
The housing stock in Hancock is 78% single-family homes, 17% apartments in buildings with 5+ units and 6% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
42% of owner-occupied homes in Hancock carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
Hancock has an owner-occupancy rate of 82% and a vacancy rate of 11%; unoccupied homes typically need a different coverage form.
76% of homes in Hancock are primarily heated with natural gas.
What's the biggest home insurance risk near Hancock? FEMA's National Risk Index points to winter weather (Relatively Moderate) in Stevens County and Stevens County had 6 active NFIP flood policies as of September 2026. See the full Stevens 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 | $98,800 |
|---|---|
| Median year built | 1962 |
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 42% |
| Top county hazard | Winter Weather (Relatively Moderate) |
| Active NFIP policies in Stevens County | 6 |
| 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)