Their is not, the exposed type magnets use ferrite magnets, this is a ceramic and is the type of magnet impellers are made from, it cannot rust. The magnet models we make that are coated use rare earth magnets, because they will rust. Ferrite magnets are much weaker, to keep a comparable strength of hold they cannot be covered. The main issue with the ferrite magnets is that they tend to pick up iron particles and can then stain, since they are not smooth like the coated models they have a lot of surface area that small iron particles can stick to but rust will be due to iron picked up and not the magnets themselves.