Home Insurance in Bancroft, West Virginia
With a median home value of $116,400, Bancroft is 48% lower than the Putnam County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Bancroft was built around 1967. About 45% of homes were built before 1960, about 30 points above Putnam County's 14%.
In Bancroft, the housing stock is 65% single-family homes, 14% apartments in buildings with 5+ units and 11% 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 Bancroft, about 63% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 13%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 77% of occupied homes in Bancroft are owner-occupied.
47% of homes in Bancroft are primarily heated with natural gas.
What's the biggest home insurance risk near Bancroft? FEMA's National Risk Index points to inland flooding (Relatively Moderate) in Putnam County and Putnam County had 255 active NFIP flood policies as of September 2026. See the full Putnam 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 | $116,400 |
|---|---|
| Median year built | 1967 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 63% |
| Top county hazard | Inland Flooding (Relatively Moderate) |
| Active NFIP policies in Putnam County | 255 |
| 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)