Home Insurance in Madison County, Virginia
With a median home value of $370,300, Madison County is close to the Virginia median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Madison County was built around 1980. About 24% of homes were built before 1960, about 4 points above Virginia's 19%.
The housing stock in Madison County is 95% single-family homes, 1% apartments in buildings with 5+ units and 3% mobile or manufactured homes.
In Madison County, about 58% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 78% of occupied homes in Madison County are owner-occupied. The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Madison County - 54% - are primarily heated with electricity. Homes heated with propane, fuel oil and wood can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
The top hazards for Madison County, per FEMA's National Risk Index, are hurricane (Relatively Low), earthquake (Very Low) and wildfire (Very Low). Standard homeowners policies exclude earthquake, so separate coverage is usually needed.
Madison County had 29 active National Flood Insurance Program policies as of September 2026. Standard homeowners insurance does not cover flood damage, so flood coverage needs a separate NFIP or private flood policy.
In Virginia, the statewide average premium for a standard HO-3 homeowners policy is $1,537 per year (NAIC, 2023 data).
Key figures
| Median home value | $370,300 |
|---|---|
| Median year built | 1980 |
| Owner-occupied share | 78% |
| Share of owner-occupied homes with a mortgage | 58% |
| Top hazards (FEMA National Risk Index) | Hurricane (Relatively Low), Earthquake (Very Low), Wildfire (Very Low) |
| Active NFIP flood policies (county) | 29 |
| Home insurance premium | $1,537 - statewide average (NAIC, 2023 data) |
Towns and cities
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)