Home Insurance in Richwood, West Virginia
Homes in Richwood carry a median value of $70,000 - 42% lower than the Nicholas County median.
Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. The typical home in Richwood was built around 1949. About 71% of homes were built before 1960, about 46 points above Nicholas County's 24%.
In Richwood, the housing stock is 82% single-family homes, 2% apartments in buildings with 5+ units and 6% mobile or manufactured homes. Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy.
About 19% of owner-occupied homes in Richwood have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Richwood has an owner-occupancy rate of 83% and a vacancy rate of 27%; unoccupied homes typically need a different coverage form.
In Richwood, 79% of homes are primarily heated with natural gas.
Nicholas County had 73 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is inland flooding (Relatively Low). See the full Nicholas 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 | $70,000 |
|---|---|
| Median year built | 1949 |
| Owner-occupied share | 83% |
| Share of owner-occupied homes with a mortgage | 19% |
| Top county hazard | Inland Flooding (Relatively Low) |
| Active NFIP policies in Nicholas County | 73 |
| Home insurance premium | $1,179 - statewide average (NAIC, 2023 data) |
Nearby towns
- Camden-on-Gauley
- Cowen
- Quinwood
- Summersville
- Falling Spring
- Hillsboro
- Addison (Webster Springs)
- Rupert
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)