Compare quotes for your home in 24502! Compare the best 12 carriers in minutes.
24502 Online Home Insurance Rates
Comparing a bunch of different rates for your home in 24502 is very time consuming. At GetHomeInsuranceQuotes.com, we help you shop and compare up to 12 major top-rated A.M. Best companies, to present the most affordable rates for homeowners living in Lynchburg, VA. Not only do we provide free comparitive rates, but we also answer any questions you have and offer a free consultation process to help you decide which coverage option is best for you. Most of the time, we can add up to 40% more in savings by applying all the discounts and credits, like a home/auto package, security alarm, new roof upgrade or even deadbolts. It's easy to shop with us, we have already partnered with the most competitive home insurance companies in the 24502 area. If you enter your zip code, you can easily begin the online quoting process, it only takes a few minutes. If you would like to give us a call now at 1-855-976-2656 we will be happy to hear from you.
If you would like to review more information on home insurance premiums in Virginia, like average Lynchburg homeowners insurance rates, coverage options or home insurance types, please select Lynchburg, VA Home Insurance Rates Online!
24502 Home Insurance Average Premiums
For the 24502, 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) | $550 /yr. |
Average Coverage: | $800 /yr. |
2600 sq. ft. or higher (all discounts applied) | $1100 /yr. |
What is the average home insurance cost for a home in 24502?
- • The average homeowners insurance premium paid annually for a home in 24502 is around $800 per year.
What does it cost on average per month for home insurance in 24502?
- • Homeowners in 24502 pay a monthly average cost per month around $67.00.
What kind of discount could I get if I combine my home and auto insurance together in 24502?
- • Autoowners in 24502 can receive a 20% to 25% discount if they own a home and would like to group or bundle their car and home insurance together with one insurance company.
For shopping home insurance rates within the Lynchburg area, check out other zip codes nearby 24502.
Review average rates in another zip code:
24502 homeowners insurance rates
24504 homeowners insurance rates
24501 homeowners insurance rates
24503 homeowners insurance rates
Home Replacement Cost Coverage in 24502
Average Building Cost Per Square Foot in 24502: $163
Location: Lynchburg, Virginia (Lynchburg City County)Average Square Footage in 24502: 1,066 Sq. Ft.
When building or updating a home, it's always good to review the average cost per square foot to build in 24502 before you start any project. Lynchburg homeowners pay on average around $163 per square foot to build a home. Another great reason to know the average cost to build is for your homeowners insurance policy. A standard homeowners policy will help you cover the replacement cost of your home due a fire or any other named perils on your policy. Calculating your dwelling coverage for your home in 24502 is extremely helpful when estimating how much replacement cost coverage you need. We highly recommend that you have enough dwelling coverage to rebuild your home if it was destroyed by a covered peril.
Here is how you determine your replacement cost. If we take an average home in 24502 and want to estimated the dwelling coverage, than we will need the square footage of the home which is 1,066 sq. ft. and the average cost to rebuild the home in this area is around $163 per square foot would be considered a base estimate cost. These two numbers would allow us to generate the replacement cost needed for an average size home in the Lynchburg area. If the home is new or has been upgraded, you will want to add $50 to $100 or more per square foot to equally cover the replacement cost to restore a home back to it's original condition.
Home Improvement Status | Price per Sq. Ft. | Square Feet | Dwelling Coverage |
---|---|---|---|
Basic Home Features | $163 | 1,066 | $173,800 |
Additional Upgrades & Added Features | $204 | 1,066 | $217,250 |
Major Home Updates or Advancements | $245 | 1,066 | $260,700 |
It's important to understand that when you estimate your replacement cost of your home in the 24502 zip code area, it will be the cost to replace the structure of your home, not the additional value of the property that is factored in when purchasing a new home.
Best Homeowners Insurance Agencies in 24502
Allstate Insurance-Karen H. Jones
Address: 19423 Forest Rd Lynchburg, VA 24502Phone: (434)385-1400
Website:
Best Home & Auto Insurance Agencies in 24502
Chip Harvey Insurance Incorporated
Address: 21009 Timberlake Rd Lynchburg, VA 24502Phone:
Website: http://www.national.citysearch.com/profile/10675964/lynchburg_va/chip_harvey_insurance_inc.html
Info:
Fordham- Laurence J
Address: 8121 Timberlake Rd Lynchburg, VA 24502Phone:
Website:
Info:
Allstate Insurance-Mike Walker- Waterlick Insurance Agency- Inc.
Address: 3311 Waterlick Rd Lynchburg, VA 24502Phone:
Website: http://www.agent.allstate.com/58489
Info:
Hedges Insurance
Address: 20715 Timberlake Rd Lynchburg, VA 24502Phone:
Website:
Info:
Insurance Center Agency Of Lynchburg Inc
Address: 7916 Timberlake Rd Lynchburg, VA 24502Phone:
Website: http://www.insurancecenteragency.net.com
Info:
Housing Demographics for 24502
Population Review for 24502 Zip Code
For the city of Lynchburg, the population within 24502 has increased to over 45,170 residents in population size. The current population total is 41,058. We have broken down the population based on race below. In 24502, there are over 19329 in male population and 21729 females.
Population | Values |
---|---|
Total Population | 41,058 |
White Population | 28796 |
Black Population | 7091 |
Hispanic Population | 2318 |
Asian Population | 1238 |
Hawaiian Population | 18 |
Indian Population | 121 |
Other Population | 1188 |
Male Population | 19329 |
Female Population | 21729 |
Population Estimate | 45170 |
Household Data for 24502
The average number of homes in 24502 is around 17,294, there are an average of 2.29 per household. The average house value according to local real estate values is around $173,800. Please review the following demographics below for average income and media age.
Housing / Income Data | Values |
---|---|
Households Per Zipcode | 17,294 |
Persons Per Household | 2.29 |
Average House Value | $173,800 |
Income Per Household | $58360 |
Median Age | 34.9 |
Median Age Male | 33.2 |
Median Age Female | 36.9 |
24502 Details | Values |
---|---|
State | VA |
State Full Name | Virginia |
City Type | P |
City Alias Abbreviation | |
Area Code | 434 |
City | Lynchburg |
City Alias Name | LYNCHBURG |
County | Lynchburg City |
County FIPS | 680 |
State FIPS | 51 |
Time Zone | 5 |
Day Light Saving | Y |
MSA | 4640 |
PMSA | |
CSA | |
CBSA | 31340 |
CBSA_DIV | |
CBSA_Type | Metro |
CBSA_Name | Lynchburg, VA |
MSA_Name | Lynchburg, VA MSA |
PMSA_Name | |
Region | South |
Division | South Atlantic |
MailingName | Y |
Economic & Growth Review | Values |
---|---|
Number Of Businesses | 1309 |
Number Of Employees | 20581 |
Business First Quarter Payroll | 172023 |
Business Annual Payroll | 752049 |
Business Employment Flag | |
Growth Rank | 0 |
Growth Housing Units 2003 | |
Growth Housing Units 2004 | |
Growth Increase Number | 0 |
Growth Increase Percentage | 0.0 |
Metropolitan Details | Values |
---|---|
CBSA Population | 252634 |
CBSA Division Population | 0 |
Congressional District | 05 |
Congressional LandArea | 10029.79 |
Delivery Residential | 19725 |
Delivery Business | 1541 |
Delivery Total | 24110 |
Preferred Last Line Key | X27047 |
Classification Code | |
Multi-County | Y |
CSA Name | |
CBSA_DIV_Name | |
City State Key | X27047 |
Land Area | 29.903000 |
Water Area | 0.213000 |
City Alias Code | |
City Mixed Case | Lynchburg |
City Alias Mixed Case | Lynchburg |
Box Count | 159 |
SFDU | 11828 |
MFDU | 1763 |
State ANSI | 51 |
County ANSI | 680 |
ZIP Intro | |
Alias Intro | |
Facility Code | P |
City Delivery Indicator | Y |
Carrier Route Rate Sortation | D |
Finance Number | 515406 |
Unique ZIP Name | |
SSA State County Code | 49551 |
Medicare CBSA Code | 31340 |
Medicare CBSA Name | Lynchburg, VA |
Medicare CBSA Type | Metro |
Market Rating Area ID | 6 |
County Mixed Case | Lynchburg City |
Virginia Homeowners Insurance News & Information
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Should I raise my deductible to $10,000 to help offset the cost of rising premiums? Posted on Wednesday 15th May, 2024
According to industry reports, homeowners are raising their deductibles to $5,000 to $10,000 to help offset the cost of rising premiums. While raising a deductible into the stratosphere will absolutely lower your homeowner insurance premium, it does mean that you will have to cover your deductible amount in the event you have to make a […]
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Should I choose the minimum or maximum homeowners insurance coverage? Posted on Monday 13th May, 2024
As homeowner insurance rates rise across the country, some homeowners are opting for policies that offer minimal coverage to keep their premiums affordable. Unfortunately, this choice will leave them at higher risk and in a position where they may have to pay more out of pocket if they have to make a claim on their […]
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Texas is Seeing Major Increases in the Cost of Homeowners Insurance Posted on Tuesday 7th May, 2024
Like much of the rest of the country, Texas is seeing major increases in the cost of homeowners insurance. According to an article in Austin American-Stateman, residents of Texas have seen their insurance rates go up 50.9% on average which is the largest increase in the country for that time period. Unfortunately, experts are predicting […]