Sylvania, OH Home Insurance Quotes!
If you move to Sylvania, OH, you will join the already 18,965 people that call this beautiful town home. Families in Sylvania have an average of 3 people and they live in one of the 12,173 housing units that line the streets of Sylvania.
In our fair city, the majority of households are earning about $88,548, which is the median income in Sylvania. One of the very best things about calling Sylvania home is the fact that you can buy a house for the average price of $201,200, which makes it a very affordable community.
Sylvania, OH Housing Information
It may not be a surprise to local residents that Sylvania, OH has now reached over 18,965 in population size with 7642 homes within the city of Sylvania. The average family household size in Sylvania is reported to be around 5092. With population density increasing in Sylvania, it's important to make sure your home has the homeowners insurance coverage and protection you need for your family. Please learn more about our home insurance discounts to discover how you can save additional money on your home insurance premium to help make it more affordable for you. When you request free Sylvania home insurance quotes from us, we will work with you to compare every possible carrier, coverage and discount available.
| Demographic | Values |
|---|---|
| Population | 18,965 |
| Total Occupied Households | 7642 |
| Family Households (families) | 5092 |
| Average Owner Occupied Household Size | 2.63 |
| Average Family Size | 3.02 |
| Total Housing Units | 8165 |
How much does home insurance cost in Sylvania?
Once you have purchased a home, you will need to protect it with a homeowners policy. Lucky for you, Sylvania is a very affordable town with an average homeowners insurance premium of $430 per year compared to the city average of $680/yr. Sylvania homeowners in more expensive homes with a heated square footage of more than 2,500 sq. ft. are paying around $980 a year because the dwelling coverage is more expensive to replace.
Coverage Guide for Sylvania Homeowners
One thing to consider when buying home insurance is the type of policy you need. There are different policy types that are each designed for the specific type of home that you may own. For example do you own or rent the home? Is the home a single family home, duplex or condo? These are all imporant questions that change the coverage level of the policy you may need to get the right coverage. Here is a brief description of each of the different homeowner policy types that are available to you:
- Homeowners 3 (HO-3): The most common of all homeowner insurance types is the HO-3 policy. The majority of homeowners in Sylvania are most likely carrying this policy type. It protects your home against every peril except ones that are excluded specifically in the policy.
It should be noted that all HO-3 policies exclude earthquake and flooding damage. - Homeowners 4 (HO-4): You probably know this policy type by its more familiar name, “renters insurance.” This will cover the personal property in the apartment as well as offering liability coverage for you in the event that some trips and fall or is otherwise injured in your apartment.
- Homeowners 5 (HO-5): This policy type is an upgraded HO-3. While more expensive than an HO-3 policy it also offers more coverage. These policies are not available on all homes, they are usually reserved for newer houses that fall in higher price brackets.
One of the major differences with this policy type is that your personal property is covered by all perils that are not named as exclusions. An HO-3 policy on the other hand only protects your personal property against a certain list of perils.
The majority of these policies also offer replacement value as standard coverage on personal property compared to fair market value which takes deprecation into account when calculating the value of your damaged or destroyed property.
Compare Homeowners Insurance Rates in Sylvania, OH!
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Home Insurance Rates by Zipcode in Sylvania, OH
Easily review average rates and get multiple homeowners insurance quotes by clicking your zip code below located in Sylvania.
Sylvania, OH Home Insurance Average Premiums
$430 /yr.
For the city of Sylvania, 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 Sylvania, OH?
- • The average homeowners insurance premium paid annually for a home in Sylvania is around $680 per year.
What does it cost on average per month for home insurance in Sylvania, OH?
- • Homeowners in Sylvania pay an average cost per month around $57.00 for insurance coverage.
Sylvania, OH Coastal Wind, Hail & Flood Information
Sylvania is located in a coastal county which greatly increases the risk of hurricanes and windstorms. Our quoting process will include wind and hail coverage options to give you the best protection you need against high winds and storm damage.
Flood Zone Notice: The beautiful coastal city of Sylvania is know for it's beautiful beaches and waterways. Because Lucas County (FIPS: 39095) has a shoreline and is in a coastal area it is important to purchase flood insurance. The risk is very high in this area and we will work with you to provide the best flood insurance coverage you need for your home in Sylvania, OH.
Sylvania, OH - 2023 Housing Information
| Month | Current Home Value (2023) | Last Year Home Value (2022) |
|---|---|---|
| January | $279,649 | $261,657 |
| February | $279,991 | $264,917 |
| March | $280,928 | $269,084 |
| April | $283,212 | $273,332 |
Homeowners insurance will help cover the cost to repair or replace your Sylvania 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 Sylvania
- 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 Sylvania, OH homeowners insurance rates all in one place! |
Saving Money Tips on Sylvania Home Insurance
A great way to save money on Sylvania 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 Sylvania 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 |
|---|---|---|
| 670 ft. | This is the average home elevation in Sylvania, OH | » Elevation is crucial to a homeowners insurance policy because it determines the risk of your home being in a flood zone which is particularly important in a coastal state such as Sylvania, Ohio. A standard homeowners policy does not cover flood damage. If you live in a flood prone area, you will need to purchase a separate flood to fully protect your home. Flood insurance can be purchased via the National Flood Insurance Program (NFIP) or in the private market. NFIP policies come with coverage caps and other restrictions so you may need to supplement your flood insurance coverage with a private market policy. It's important to remember that flooding occurs in low and moderate risk areas as well. According to FEMA data, almost 25% of all flood claims come from low to moderate-risk areas. |
To get online quotes on your home and compare rates on home insurance premiums in Sylvania, 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 Lucas County.
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Sylvania, OH Dwelling Coverage Estimate
It is important to calculate your dwelling coverage for your home in Sylvania 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 Sylvania, OH?
- The average square footage in Sylvania is around 1,813 Sq. Ft. which would cost you around $201,200 to replace the home if you base the home on the price to build per square foot of $111.
Minimum Replacement Cost Total: $201,200
Location: Sylvania, Ohio (Lucas County)
Average Building Cost Per Square Foot in Sylvania: $111 (low end)
Average Square Footage in Sylvania: 1,813 Sq. Ft.
| Home Improvement Status | Price per Sq. Ft. | Dwelling Coverage |
|---|---|---|
| None or Very Minor Improvements | $111 | $201,200 |
| Some Additional Upgrades | $139 | $251,500 |
| Major Home Updates or Advancements | $167 | $301,800 |
The dwelling coverage is calculated by the average cost per square foot ($111) in Sylvania, 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.