Home Insurance in Parma, Missouri
With a median home value of $43,300, Parma is 61% lower than the New Madrid County median.
The typical home in Parma was built around 1970. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 37% of homes were built before 1960, about 13 points above New Madrid County's 24%.
The housing stock in Parma is 79% single-family homes, 2% apartments in buildings with 5+ units and 8% mobile or manufactured homes. The rest are 2-4 unit or other housing types. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
In Parma, about 12% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 62% of occupied homes in Parma are owner-occupied. The vacancy rate is 14%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Parma, 49% of homes are primarily heated with propane.
What's the biggest home insurance risk near Parma? FEMA's National Risk Index points to earthquake (Relatively Moderate) in New Madrid County and New Madrid County had 342 active NFIP flood policies as of September 2026. See the full New Madrid County home insurance overview for all FEMA hazard ratings and flood coverage details. Earthquake damage is excluded from a standard homeowners policy.
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 | $43,300 |
|---|---|
| Median year built | 1970 |
| Owner-occupied share | 62% |
| Share of owner-occupied homes with a mortgage | 12% |
| Top county hazard | Earthquake (Relatively Moderate) |
| Active NFIP policies in New Madrid County | 342 |
| 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)