Home Insurance in Novelty, Missouri
Homes in Novelty carry a median value of $109,400 - 8% higher than the Knox 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 Novelty was built around 1961. About 48% of homes were built before 1960, about 5 points above Knox County's 43%.
In Novelty, the housing stock is 100% single-family homes.
About 38% of owner-occupied homes in Novelty have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Novelty has an owner-occupancy rate of 81% and a vacancy rate of 38%; unoccupied homes typically need a different coverage form.
Most homes in Novelty - 58% - 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.
FEMA rates Knox County's overall risk as Very Low, led by hail (Relatively Low). Knox County had 1 active NFIP flood policy as of September 2026. See the full Knox 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 Missouri is $1,589 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $109,400 |
|---|---|
| Median year built | 1961 |
| Owner-occupied share | 81% |
| Share of owner-occupied homes with a mortgage | 38% |
| Top county hazard | Hail (Relatively Low) |
| Active NFIP policies in Knox County | 1 |
| 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)