Magnetic Springs, OH Home Insurance Quotes!
Did you know that shopping online for lower home insurance rates in Magnetic Springs, OH just got easier! At GetHomeInsuranceQuotes.com, we provide superior service when it comes to handling your insurance needs. We can shop the highly trusted carriers who have been in business for several decades and offer a branded household name that you can depend on and most of all trust. The best rates in your area are around $430 per year on average. Our licensed Magnetic Springs insurance consultants are here to help you compare multiple options and our professional service allows us to answer the questions that you need to get the right coverage at the most affordable price. We provide the best rates from up to 12 different insurance carriers that are all highly rated by A.M Best and we shop the policy with you so you know which Magnetic Springs homeowners insurance package is best for you. Start your quote today by entering your zip code!
Magnetic Springs Demographics & Housing Facts
Source | Value |
---|---|
Location: | Magnetic Springs, OH (UNION County) |
Population: | 774 |
Occupied Residents: | 318 |
Average Real Estate Value Per Zip Code: | $83,800 |
The city of Magnetic Springs in Ohio is roughly around 774 residents in population size with 318 homes to be estimated within the city of Magnetic Springs. The average house value per zip code in Magnetic Springs, OH is $83,800. Understanding the market value of your home and which carrier is best suitable for you in terms of coverage and affordability is our job. Let our local experience of the Magnetic Springs home insurance market earn your business. Easily get quotes from us for free!
Homeowners Insurance in Magnetic Springs, OH
When our local Magnetic Springs agents discuss homeowners insurance with new customers, we work with them to clearly explain the additional ways for you to save time and money by discovering lower rates that are available to you. Our online shopping service for your home located in Magnetic Springs can save you hours of confusion and stress. It's important to understand that coverage to replace your home is key, so the right replacement cost matters due to the fluctuation of building cost in your area. Even existing customers in Magnetic Springs are increasing their coverage to make sure no surprises will fall on them if a major issue occurs. Residents of Magnetic Springs, OH can get cheaper rates around the $430 rate per year. On average, we are helping most customers in the $680 per year or the $57 per month range. Cheaper is not always better. For larger homes in Magnetic Springs, above the 3,000 square foot range, we are seeing rates much higher in the $980 per year because it will cost more to replace the home so a more expensive dwelling coverage is required to help protect the homeowner.
The average rates mentioned above for a standard homeowners insurance policy within the state of Ohio includes the coverage of your home, your contents, loss of use, medical payments and homeowner liability coverage. We always explain the policy details to you and help you understand that if your home is in need of additional coverage because the area in which your home is located requires flood insurance then our agents will help you setup a flood insurance policy. This is one of the many policy details our agents will recognize when you request an online Magnetic Springs, OH homeowners insurance quote from us.
For additional help, please visit our homeowners insurance blog for helpful articles, tips and customer related questions.
Compare Homeowners Insurance Rates in Magnetic Springs, OH!
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Average Rates Nearby Magnetic Springs
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Home Insurance Rates by Zipcode in Magnetic Springs, OH
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Magnetic Springs.
Magnetic Springs, OH Home Insurance Average Premiums
For the city of Magnetic Springs, homeowners insurance rates may vary on deductible, coverage amount and property details. Below is a list of the averages based on the cost of an annual home insurance premium.
Coverage Amount: | Annual Premium |
---|---|
1800 sq. ft. or below (discounts applied) | $430 /yr. |
Average Coverage: | $680 /yr. |
2600 sq. ft. or higher (all discounts applied) | $980 /yr. |
What is the average home insurance cost for a home in Magnetic Springs, OH?
- • The average homeowners insurance premium paid annually for a home in Magnetic Springs is around $680 per year.
What does it cost on average per month for home insurance in Magnetic Springs, OH?
- • Homeowners in Magnetic Springs pay an average cost per month around $57.00 for insurance coverage.
Magnetic Springs, OH - 2023 Housing Information
Month | Current Home Value (2023) | Last Year Home Value (2022) |
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January | $0 | $0 |
February | $0 | $0 |
March | $0 | $0 |
April | $0 | $0 |
Homeowners insurance will help cover the cost to repair or replace your Magnetic Springs home if it is damaged or destroyed by a covered peril, up to your coverage limits. A homeowners policy is made up of a few different coverages. Here are the most common coverages:
- Dwelling: This coverage will pay to repair or replace the structure of your home if it is damaged or destroyed. Review and Calculate Replacement Cost Coverage in Magnetic Springs
- Liability: This coverage will help cover medical and legal bills if someone is injured in your home, slipping on an icy sidewalk for example. It also offers protection if you damage another person’s property, your child hitting a baseball through a neighbor’s window for example.
- Contents: This covers the cost to replace your personal possessions that are destroyed by a covered peril. Furniture, electronics, clothing and household goods are excellent examples. Contents coverage is often capped at 50% to 70% of your dwelling coverage.
- Other Structures: This coverage protects other structures on your property such as detached garages, outbuildings, barns, and sheds.
- Loss of use: This covers everyday costs that you incur if you cannot live in your home while it is being repaired due to a claim. It will pay hotel and restaurant bills and even the cost of dry cleaning.
Get up to 12 competitive Magnetic Springs, OH homeowners insurance rates all in one place! |
Saving Money Tips on Magnetic Springs Home Insurance
A great way to save money on Magnetic Springs homeowners insurance is to make sure you are getting all the discounts you are qualified to receive. Here are just a few of the most common discount’s insurers offer:
- Bundling: If you purchase your home and auto (or any other insurance coverage) from the same insurer, you should get a bundling discount. Expect to save 20%-25%.
- Secure your home: Adding a monitored security system, water leak sensors, deadbolts, and smoke detectors should result in a discount.
- Impact resistant roof: If you are replacing your roof, consider impact resistant roofing materials which help prevent hail and impact damage as well as resulting in a significant discount.
- Stay claim free: If you have been claim free for a number of years (five is a common requirement) your insurer should offer a claim free discount.
Are you shopping for the best rate near or wihin the Magnetic Springs area? Check out what homeowners are paying on average for Ohio homeowners insurance.
Elevation Review for Coastal Wind or Flooding Risk
Elevation | Details | Homeowners Tips |
---|---|---|
934 ft. | This is the average home elevation in Magnetic Springs, OH | Did you know that the elevation in which your home resides is crucial to a home insurance policy because it determines the risk factor related to your home being in a flood zone. It is important to understand that your home is not covered for floods under a standard homeowners policy. You will need to speak with a local Ohio flood insurance agent about a flood insurance policy, please give us a call now at 888-620-1954. |
To get online quotes on your home and compare rates on home insurance premiums in Magnetic Springs, enter your zip code above and easily complete our online quoting application. Remember, it's important to speak with us about additional home insurance discounts so you can get the best rate for your home in Union County.
Ohio Homeowners Insurance News & Information
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Texas Homeowner Insurance Claims Were Closed Without Any Payment Posted on Monday 14th July, 2025
According to a recent study that was reported on in the Houston Chronicle, almost half of all Texas homeowner insurance claims were closed without any payment to the homeowner. A company called Weiss Ratings was in charge of the study and they found that 47% of claims filed by Texas homeowners have been closed by […]
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What causes North Carolina home insurance to go up? Posted on Monday 7th July, 2025
A homeowner in North Carolina was greeted with a nasty surprise this year, a 41% increase in his insurance premium. On average, homeowners in North Carolina saw a rate jump of 7.5% on June 1st due to a settlement reached by the North Carolina Department of Insurance but this certainly doesn’t explain a 41% increase. Doug Corkhill is […]
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Is the U.S. Home Buying Market Going to Drop in 2025? Posted on Friday 4th July, 2025
A recent report from the Harvard Joint Center for Housing Studies found that U.S. homebuying has dropped to its lowest levels since the mid-1990s. The report, The State of the Nation’s Housing 2025 blames record high real estate prices combined with higher interests for the drop in home sales. While high home prices and elevated interest rates […]
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Florida Homeowners Are Concerned About Property Insurance Crisis Posted on Tuesday 1st July, 2025
Insurance rates are rising at unprecedented rates, causing millions of people to struggle with the new premiums. In the last three years, insurance rates have doubled in some areas. Homeowners fear for their houses while their representatives in Congress struggle to help. Insurers are pulling out of states like Florida as damaging hurricanes and powerful […]
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Upgrading Your Home Against Disasters Can Help Save You Money On Your Insurance Posted on Thursday 26th June, 2025
Ron Watson’s roof on his Alabama home looks the same as all his neighbors’ roofs. Yet his is saving him money every year. With the help of nails specifically designed to stay in place during high winds, along with other construction elements, Watson’s roof is less likely to be damaged in natural disasters, like hurricane […]
Magnetic Springs, OH Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Magnetic Springs so you know what type of homeowners insurance coverage you need to cover your replacement cost. It is recommended to have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Please remember that replacement cost coverage does not include the cost of the land, only the price to rebuild your home, which is why we like to help customers by answering a few questions that you may have.
What is the average replacement cost coverage in Magnetic Springs, OH?
- The average square footage in Magnetic Springs is around 755 Sq. Ft. which would cost you around $83,800 to replace the home if you base the home on the price to build per square foot of $111.
Minimum Replacement Cost Total: $83,800
Location: Magnetic Springs, Ohio (Union County)
Average Building Cost Per Square Foot in Magnetic Springs: $111 (low end)
Average Square Footage in Magnetic Springs: 755 Sq. Ft.
Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
---|---|---|
None or Very Minor Improvements | $111 | $83,800 |
Some Additional Upgrades | $139 | $104,750 |
Major Home Updates or Advancements | $167 | $125,700 |
The dwelling coverage is calculated by the average cost per square foot ($111) in Magnetic Springs, Ohio times your heated square footage. Which would equal the cost to rebuild your home minus the cost of the property or land. Some homes will have a higher replacement cost due to home improvements like updated kitchens and bathrooms. Other upgrades may include: granite countertops, hardwood floors and stainless steel appliances. The national square foot average to build a brand new home is around 2500 square feet. So if you are looking to build, and your square footage of your new home is 2500, you are looking at a dwelling coverage premium of around $346,875 (Media price to build of $139 x 2500 sq. ft.) to cover the cost to rebuild your new home.
What is the difference between actual cash value and replacement cost value?
Homeowners insurance is available in both actual cash value (ACV) and replacement cost value (RCV). Knowing the difference is important:
Actual cash value: When valuing your personal possessions, an actual cash value policy will take depreciation into account. This means that your 10-year-old TV will be basically worthless according to your insurance company. While an ACV policy tends to be cheaper, if you have to make a claim you may be disappointed in your claim payout.
Replacement cost value: A RCV policy will replace your possessions with brand new items of similar quality regardless of how old they were at the time they were destroyed. While RCV policies are slightly more expensive, they are well worth the cost if you have to make a claim.