Home Insurance in Paradise, Texas
Homes in Paradise carry a median value of $319,600 - close to the Wise County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Paradise was built around 1987. About 19% of homes were built before 1960, about 9 points above Wise County's 11%.
In Paradise, the housing stock is 88% single-family homes and 12% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 47% of owner-occupied homes in Paradise have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 88% of occupied homes in Paradise are owner-occupied. The vacancy rate is 9%; 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. 48% of homes in Paradise are primarily heated with electricity.
FEMA rates Wise County's overall risk as Relatively Low, led by wildfire (Relatively Moderate). Wise County had 209 active NFIP flood policies as of September 2026. See the full Wise 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 Texas carries a statewide average premium of $2,864 per year.
1 licensed insurance agencies are listed for this area.
Key figures
| Median home value | $319,600 |
|---|---|
| Median year built | 1987 |
| Owner-occupied share | 88% |
| Share of owner-occupied homes with a mortgage | 47% |
| Top county hazard | Wildfire (Relatively Moderate) |
| Active NFIP policies in Wise County | 209 |
| Home insurance premium | $2,864 - statewide average (NAIC, 2023 data) |
Licensed insurance agencies in Paradise
- ELYS SERVICES & INSURANCE AGENCY LLC, Paradise (General Lines Agency)
Data source: Texas Department of Insurance - licensed agencies, https://data.texas.gov/d/3yqc-fcdt
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)
- Texas Department of Insurance - licensed agencies (2026)