By: Ajay kumar Medagani January, 08, 2019
A recent Gavop survey on home insurance rates in Muncie, Indiana reveals that a typical home in the city is valued at $74,000, the median insurance rate is $360, and the savings between the 25th and 75th percentile in insurance premiums is $250.
Muncie, with an estimated population of 70,000 (as of 2016) is located in Delaware County, East Central Indiana. Typical home values in the state range between $44,000 and $170,000. To provide a comprehensive overview of the home insurance market, Gavop examines typical home values, median insurance rates, and the savings between the 25th and 75th percentile of insurance premiums in the city and in 10 places located within a 50-mile radius of Muncie.
Of the 10 locations, Kirkland reports the highest savings of $620, a typical home value of $165,000, and a median home insurance premium of $870. Duck Creek offers a potential saving of $400, a typical home value of $123,200, and a median insurance value of $550. In Warren, residents can save $340 by switching from the 75th percentile premium to the 25th percentile insurance premium. Here, a typical home costs $102,900 and a median home insurance premium is $490. Residents of Montezuma in nearby Ohio can also save $340. A typical home value in Montezuma is $79,300 and the median insurance is $470. In Rockcreek, the savings are $330, a typical home is valued at $119,200, and the median home insurance is $510.
The following graph compares the median and the 25th and 75th percentile of home insurance premiums in places within a 50-mile radius of Muncie.
The following table lists the typical home values, median home insurance prices, the 25th and 75th percentile of insurance premiums, and the potential savings between the two for 10 places within a 50-mile radius of Muncie, Indiana. In addition, it lists the county- and state-level values.
|Place||Typical Home Value||Median Home Insurance Costs||25th Percentile||75th Percentile||Potential Savings & Difference between 25th & 75th Percentile|
|Delaware County, IN||$90,800||$470||$310||$640||$330|
|Duck Creek, IN||$123,200||$550||$390||$790||$400|
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Ajay Kumar works as a data analyst with Gavop. A (software) engineer by profession, he utilizes his well-established programming skills in big data, to derive insights from a wide variety of data sets. A engineering graduate from JNTU his passion involves analyzing raw data, infographics and other visual aids for research.