Home Insurance in Franklin, Missouri
Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them. The typical home in Franklin was built around 1977. About 24% of homes were built before 1960, about 12 points below Howard County's 36%.
The housing stock in Franklin is 35% single-family homes, 6% apartments in buildings with 5+ units and 59% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
36% of owner-occupied homes in Franklin carry a mortgage, and mortgage lenders require hazard insurance for as long as the loan is active.
About 82% of occupied homes in Franklin are owner-occupied.
Most homes in Franklin - 53% - are primarily heated with natural gas.
Howard County's top FEMA-rated hazard is tornado (Relatively Low), per FEMA's National Risk Index. Howard County had 17 active NFIP flood policies as of September 2026. See the full Howard 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 Missouri carries a statewide average premium of $1,589 per year.
Key figures
| Median year built | 1977 |
|---|---|
| Owner-occupied share | 82% |
| Share of owner-occupied homes with a mortgage | 36% |
| Top county hazard | Tornado (Relatively Low) |
| Active NFIP policies in Howard County | 17 |
| Home insurance premium | $1,589 - 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)