Home Insurance in Madison, West Virginia
With a median home value of $147,900, Madison is 59% higher than the Boone County median.
The typical home in Madison was built around 1963. About 47% of homes were built before 1960, about 17 points above Boone County's 30%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Madison is 76% single-family homes, 4% apartments in buildings with 5+ units and 6% 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 Madison, about 32% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
Madison has an owner-occupancy rate of 67% and a vacancy rate of 21%; unoccupied homes typically need a different coverage form.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Madison, 47% of homes are primarily heated with natural gas.
What's the biggest home insurance risk near Madison? FEMA's National Risk Index points to inland flooding (Relatively Moderate) in Boone County and Boone County had 170 active NFIP flood policies as of September 2026. See the full Boone County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in West Virginia carries a statewide average premium of $1,179 per year.
Key figures
| Median home value | $147,900 |
|---|---|
| Median year built | 1963 |
| Owner-occupied share | 67% |
| Share of owner-occupied homes with a mortgage | 32% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Boone County | 170 |
| Home insurance premium | $1,179 - 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)