VOYAGEUR INSURED FUNDS INC
NSAR-B, 1997-02-26
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<PAGE>      PAGE  1
000 B000000 12/31/96
000 C000000 809064
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 VOYAGEUR INSURED FUNDS, INC.
001 B000000 811-4977
001 C000000 6123767071
002 A000000 90 SOUTH SEVENTH STREET STE 4400
002 B000000 MINNEAPOLIS
002 C000000 MN
002 D010000 55402
002 D020000 4115
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 VOYAGEUR MINNESOTA INSURED TAX FREE FUND
007 C030100 N
007 C010200  2
007 C020200 VOYAGEUR ARIZONA INSURED TAX FREE FUND
007 C030200 N
007 C010300  3
007 C020300 VOYAGEUR NATIONAL INSURED TAX FREE FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 VOYAGEUR FUND MANAGERS
008 B00AA01 A
008 C00AA01 801-20432
008 D01AA01 MINNEAPOLIS
008 D02AA01 MN
008 D03AA01 55402
008 D04AA01 4115
010 A00AA01 VOYAGEUR FUND DISTRIBUTORS
010 B00AA01 8-37934
010 C01AA01 MINNEAPOLIS
010 C02AA01 MN
010 C03AA01 55402
<PAGE>      PAGE  2
010 C04AA01 4115
011 A00AA01 VOYAGEUR FUND DISTRIBUTORS
011 B00AA01 8-37934
011 C01AA01 MINNEAPOLIS
011 C02AA01 MN
011 C03AA01 55402
011 C04AA01 4115
012 A00AA01 VOYAGEUR FUND MANAGERS
012 B00AA01 84-01744
012 C01AA01 MINNEAPOLIS
012 C02AA01 MN
012 C03AA01 55402
012 C04AA01 4115
013 A00AA01 KPMG PEAT MARWICK
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
014 A00AA01 DOUGHERTY FINANCIAL GROUP
014 B00AA01 8-21885
015 A00AA01 NORWEST BANK MINNESOTA
015 B00AA01 C
015 C01AA01 MINNEAPOLIS
015 C02AA01 MN
015 C03AA01 55479
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   42
019 C00AA00 VOYAGEURFU
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 A000001 WILLIAM R. HOUGH & COMPANY
022 B000001 59-2246010
022 C000001         0
022 D000001     10528
022 A000002 DAIN BOSWORTH
022 B000002 41-0212020
022 C000002         0
022 D000002      9420
022 A000003 GEORGE K. BAUM & COMPANY
022 B000003 44-0522329
022 C000003         0
<PAGE>      PAGE  3
022 D000003      7923
022 A000004 PAINE WEBBER
022 B000004 13-2638166
022 C000004         0
022 D000004      6982
022 A000005 A.G. EDWARDS
022 B000005 43-0895447
022 C000005         0
022 D000005      6574
022 A000006 MERRIL LYNCH
022 B000006 13-5674085
022 C000006         0
022 D000006      5445
022 A000007 DEAN WITTER REYNOLDS
022 B000007 94-1671384
022 C000007         0
022 D000007      5076
022 A000008 BEAR STEARNS & COMPANY
022 B000008 13-4946705
022 C000008         0
022 D000008      5069
022 A000009 BELL HAVEN
022 B000009 06-1385063
022 C000009         0
022 D000009      4527
022 A000010 PIPER JAFFRAY & HOPWOOD
022 B000010 41-0953246
022 C000010         0
022 D000010      3983
023 C000000       8465
023 D000000      97168
024  00AA00 N
025 D00AA01       0
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025 D00AA04       0
025 D00AA05       0
025 D00AA06       0
025 D00AA07       0
025 D00AA08       0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
049  00AA00 N
<PAGE>      PAGE  4
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056  00AA00 N
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     1000
077 A000000 Y
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077 D000000 N
077 E000000 N
077 F000000 N
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077 L000000 N
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077 Q010000 N
077 Q020000 N
077 Q030000 N
078  000000 N
080 A00AA00 RELIANCE NATIONAL
<PAGE>      PAGE  5
080 C00AA00    15000
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081 B00AA00  56
082 A00AA00 N
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083 A00AA00 N
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084 A00AA00 N
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
048 J020100 0.000
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062 J000100   0.0
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064 A000100 Y
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067  000100 N
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070 A020100 N
070 B010100 N
070 B020100 N
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070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
<PAGE>      PAGE  8
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
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070 O010100 Y
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070 Q010100 N
070 Q020100 N
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070 R020100 N
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<PAGE>      PAGE  9
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074 K000100        0
074 L000100     6528
074 M000100        0
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074 U010100 28772685
074 U020100   295018
074 V010100    10.60
074 V020100    10.60
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074 X000100     8382
074 Y000100 10000000
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028 A010200      1365
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028 B040200      2674
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028 C020200       344
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028 C040200      2151
028 D010200       813
028 D020200       340
<PAGE>      PAGE  10
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028 E040200      3508
028 F010200       487
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028 F040200      3760
028 G010200      4914
028 G020200      1716
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028 H000200      4014
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032  000200    299
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034  000200 Y
035  000200      4
036 A000200 Y
036 B000200      0
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038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
042 A000200   0
042 B000200   0
042 C000200   0
042 D000200 100
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
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048 B020200 0.000
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<PAGE>      PAGE  11
048 C020200 0.000
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048 D020200 0.000
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048 E020200 0.000
048 F010200        0
048 F020200 0.000
048 G010200        0
048 G020200 0.000
048 H010200        0
048 H020200 0.000
048 I010200        0
048 I020200 0.000
048 J010200        0
048 J020200 0.000
048 K010200        0
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062 C000200   0.0
062 D000200   0.0
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
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062 M000200   0.0
062 N000200   0.0
062 O000200  99.8
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
063 A000200   0
063 B000200 11.3
064 A000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
<PAGE>      PAGE  12
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
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071 B000200    115693
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072 A000200 12
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<PAGE>      PAGE  13
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072DD010200    10689
072DD020200       22
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073 B000200   0.0000
073 C000200   0.0000
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074 D000200   212441
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076  000200     0.00
<PAGE>      PAGE  14
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028 F040300      2490
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028 G020300       395
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039  000300 N
040  000300 Y
041  000300 Y
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042 B000300   0
042 C000300   0
042 D000300 100
042 E000300   0
<PAGE>      PAGE  15
042 F000300   0
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062 E000300   0.0
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062 H000300   0.0
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<PAGE>      PAGE  16
064 A000300 Y
066 A000300 N
067  000300 N
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070 B020300 N
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070 D010300 N
070 D020300 N
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070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
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071 B000300     31890
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<PAGE>      PAGE  17
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073 A020300   0.4800
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<PAGE>      PAGE  18
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074 U020300   171462
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SIGNATURE   KEN LARSEN                                   
TITLE       TREASURER           
 


<TABLE> <S> <C>
                                          
<ARTICLE>          6
<LEGEND>           
The schedule contains summary financial information extracted from the statement
of assets and liabilities,  statement of operations, statement of changes in net
assets  and  the  financial  highlights  and is  qualified  in its  entirety  by
reference to such financial statements.
</LEGEND>
<CIK>               0000809064
<NAME>              Voyageur Insured Funds, Inc.
<SERIES>
   <NUMBER>         1
   <NAME>           Voyageur Minnesota Insured Fund
       
<S>                                                                         <C>
<PERIOD-TYPE>                                                              Year
<FISCAL-YEAR-END>                                                   Dec-31-1996
<PERIOD-START>                                                      Jan-01-1996
<PERIOD-END>                                                        Dec-31-1996
<INVESTMENTS-AT-COST>                                               294,856,518
<INVESTMENTS-AT-VALUE>                                              309,148,795
<RECEIVABLES>                                                         7,519,850
<ASSETS-OTHER>                                                                0
<OTHER-ITEMS-ASSETS>                                                          0
<TOTAL-ASSETS>                                                      316,668,645
<PAYABLE-FOR-SECURITIES>                                                      0
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                             1,848,354
<TOTAL-LIABILITIES>                                                   1,848,354
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                            308,470,059
<SHARES-COMMON-STOCK>                                                29,711,817
<SHARES-COMMON-PRIOR>                                                29,399,056
<ACCUMULATED-NII-CURRENT>                                                61,231
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                              (8,003,276)
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                             14,292,277
<NET-ASSETS>                                                        314,820,291
<DIVIDEND-INCOME>                                                             0
<INTEREST-INCOME>                                                    17,763,069
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                        2,868,684
<NET-INVESTMENT-INCOME>                                              14,894,385
<REALIZED-GAINS-CURRENT>                                                293,417
<APPREC-INCREASE-CURRENT>                                            (4,586,047)
<NET-CHANGE-FROM-OPS>                                                10,601,755
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                            14,837,354
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                               4,383,932
<NUMBER-OF-SHARES-REDEEMED>                                           5,070,981
<SHARES-REINVESTED>                                                     999,810
<NET-CHANGE-IN-ASSETS>                                                 (734,780)
<ACCUMULATED-NII-PRIOR>                                                   4,200
<ACCUMULATED-GAINS-PRIOR>                                            (7,669,506)
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                 1,518,301
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                       2,875,680
<AVERAGE-NET-ASSETS>                                                303,658,346
<PER-SHARE-NAV-BEGIN>                                                     10.73
<PER-SHARE-NII>                                                            0.52
<PER-SHARE-GAIN-APPREC>                                                   (0.13)
<PER-SHARE-DIVIDEND>                                                       0.52
<PER-SHARE-DISTRIBUTIONS>                                                  0.00
<RETURNS-OF-CAPITAL>                                                       0.00
<PER-SHARE-NAV-END>                                                       10.60
<EXPENSE-RATIO>                                                           0.920
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                          0
        

</TABLE>

<TABLE> <S> <C>
                                          
<ARTICLE>              6
<LEGEND>   
The schedule contains summary financial information extracted from the statement
of assets and liabilities,  statement of operations, statement of changes in net
assets  and  the  financial  highlights  and is  qualified  in its  entirety  by
reference to such financial statements.
</LEGEND>
<CIK>       0000809064
<NAME>      Voyageur Insured Funds, Inc.
<SERIES>
   <NUMBER> 2
   <NAME>   Voyageur Arizona Insured Tax Free Fund
       
<S>                                                                         <C>
<PERIOD-TYPE>                                                              Year
<FISCAL-YEAR-END>                                                   Dec-31-1996
<PERIOD-START>                                                      Jan-01-1996
<PERIOD-END>                                                        Dec-31-1996
<INVESTMENTS-AT-COST>                                               203,348,459
<INVESTMENTS-AT-VALUE>                                              212,441,294
<RECEIVABLES>                                                         5,202,300
<ASSETS-OTHER>                                                                0
<OTHER-ITEMS-ASSETS>                                                          0
<TOTAL-ASSETS>                                                      217,643,594
<PAYABLE-FOR-SECURITIES>                                                      0
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                             4,721,231
<TOTAL-LIABILITIES>                                                   4,721,231
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                            209,530,831
<SHARES-COMMON-STOCK>                                                19,255,443
<SHARES-COMMON-PRIOR>                                                21,583,888
<ACCUMULATED-NII-CURRENT>                                               117,775
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                              (5,819,078)
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                              9,092,835
<NET-ASSETS>                                                        212,922,363
<DIVIDEND-INCOME>                                                             0
<INTEREST-INCOME>                                                    12,783,203
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                        1,850,665
<NET-INVESTMENT-INCOME>                                              10,932,538
<REALIZED-GAINS-CURRENT>                                                 10,306
<APPREC-INCREASE-CURRENT>                                            (2,489,648)
<NET-CHANGE-FROM-OPS>                                                 8,453,196
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                            10,815,332
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                               1,281,174
<NUMBER-OF-SHARES-REDEEMED>                                           4,003,893
<SHARES-REINVESTED>                                                     394,274
<NET-CHANGE-IN-ASSETS>                                              (27,780,181)
<ACCUMULATED-NII-PRIOR>                                                     569
<ACCUMULATED-GAINS-PRIOR>                                            (5,829,384)
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                 1,119,609
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                       2,144,454
<AVERAGE-NET-ASSETS>                                                223,849,105
<PER-SHARE-NAV-BEGIN>                                                     11.15
<PER-SHARE-NII>                                                            0.53
<PER-SHARE-GAIN-APPREC>                                                   (0.09)
<PER-SHARE-DIVIDEND>                                                       0.53
<PER-SHARE-DISTRIBUTIONS>                                                  0.00
<RETURNS-OF-CAPITAL>                                                       0.00
<PER-SHARE-NAV-END>                                                       11.06
<EXPENSE-RATIO>                                                           0.820
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                          0
        

</TABLE>

<TABLE> <S> <C>
                                            
<ARTICLE>           6
<LEGEND>            
The schedule contains summary financial information extracted from the statement
of assets and liabilities,  statement of operations, statement of changes in net
assets  and  the  financial  highlights  and is  qualified  in its  entirety  by
reference to such financial statements.
</LEGEND>
<CIK>               0000809064
<NAME>              Voyageur Insured Funds, Inc.
<SERIES>
   <NUMBER>         3
   <NAME>           Voyageur National Insured Tax Free Fund
       
<S>                                                                         <C>
<PERIOD-TYPE>                                                              Year
<FISCAL-YEAR-END>                                                   Dec-31-1996
<PERIOD-START>                                                      Jan-01-1996
<PERIOD-END>                                                        Dec-31-1996
<INVESTMENTS-AT-COST>                                                31,618,426
<INVESTMENTS-AT-VALUE>                                               32,627,359
<RECEIVABLES>                                                           493,212
<ASSETS-OTHER>                                                                0
<OTHER-ITEMS-ASSETS>                                                  2,075,742
<TOTAL-ASSETS>                                                       35,196,313
<PAYABLE-FOR-SECURITIES>                                              2,988,308
<SENIOR-LONG-TERM-DEBT>                                                       0
<OTHER-ITEMS-LIABILITIES>                                               177,747
<TOTAL-LIABILITIES>                                                   3,166,055
<SENIOR-EQUITY>                                                               0
<PAID-IN-CAPITAL-COMMON>                                             31,950,110
<SHARES-COMMON-STOCK>                                                 3,084,331
<SHARES-COMMON-PRIOR>                                                 3,497,760
<ACCUMULATED-NII-CURRENT>                                                 4,771
<OVERDISTRIBUTION-NII>                                                        0
<ACCUMULATED-NET-GAINS>                                                (933,556)
<OVERDISTRIBUTION-GAINS>                                                      0
<ACCUM-APPREC-OR-DEPREC>                                              1,008,933
<NET-ASSETS>                                                         32,030,258
<DIVIDEND-INCOME>                                                             0
<INTEREST-INCOME>                                                     2,040,921
<OTHER-INCOME>                                                                0
<EXPENSES-NET>                                                          251,910
<NET-INVESTMENT-INCOME>                                               1,789,011
<REALIZED-GAINS-CURRENT>                                               (164,634)
<APPREC-INCREASE-CURRENT>                                              (770,391)
<NET-CHANGE-FROM-OPS>                                                   853,986
<EQUALIZATION>                                                                0
<DISTRIBUTIONS-OF-INCOME>                                             1,796,449
<DISTRIBUTIONS-OF-GAINS>                                                      0
<DISTRIBUTIONS-OTHER>                                                         0
<NUMBER-OF-SHARES-SOLD>                                                 581,597
<NUMBER-OF-SHARES-REDEEMED>                                           1,095,417
<SHARES-REINVESTED>                                                     100,391
<NET-CHANGE-IN-ASSETS>                                               (5,186,850)
<ACCUMULATED-NII-PRIOR>                                                   6,820
<ACCUMULATED-GAINS-PRIOR>                                              (768,922)
<OVERDISTRIB-NII-PRIOR>                                                       0
<OVERDIST-NET-GAINS-PRIOR>                                                    0
<GROSS-ADVISORY-FEES>                                                   174,688
<INTEREST-EXPENSE>                                                            0
<GROSS-EXPENSE>                                                         409,740
<AVERAGE-NET-ASSETS>                                                 34,930,394
<PER-SHARE-NAV-BEGIN>                                                     10.64
<PER-SHARE-NII>                                                            0.53
<PER-SHARE-GAIN-APPREC>                                                   (0.26)
<PER-SHARE-DIVIDEND>                                                       0.53
<PER-SHARE-DISTRIBUTIONS>                                                  0.00
<RETURNS-OF-CAPITAL>                                                       0.00
<PER-SHARE-NAV-END>                                                       10.38
<EXPENSE-RATIO>                                                           0.700
<AVG-DEBT-OUTSTANDING>                                                        0
<AVG-DEBT-PER-SHARE>                                                          0
        

</TABLE>


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