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Home Insurance Rising Rates?

from Lamplighter Insurance

by Ryan Sussman on Nov 17, 2014

Based on Industry statistics, average rates on Homeowners Insurance policies have lowered over the past 10 years by nearly 50%.  This data is skewed by the surge of new construction homes that were built from 2004 – 2014.  Homeowners who purchase or currently own older homes have seen increases in Homeowners Insurance of nearly 120% over the same period.

Older homes present a higher likelihood of loss than newer homes.  In addition to the clear-cut answer of age, the acquisition of new construction Homeowners Insurance policies is more likely because consumers are seeking coverage on a new purchase – therefore carriers are more aggressive in this market.

Need help finding the right Homeowners Insurance?

Call Us Today

Columbia Office:  803-451-0076

Home maintenance is the “secret” to keeping your insurance rates down.  Updates to your older home can keep your rates at a level that is reflective of your likelihood of losses:

  • Roofing Updates – every 15-25 years
  • Plumbing Updates – Varies by type (polybutylene is a disaster waiting to happen)
  • Electrical Updates – Varies by type (Aluminum wiring = danger)
  • HVAC (Air Conditioning/Heating) - 10-15 year avg. life
  • Chimney or Fireplace Inspection/Updates – annually

Keeping documentation of these updates can lead to substantially lower risk of loss and in turn – Lower Insurance Premiums.

Lamplighter Insurance is "Lighting the way..."

Contact us and we can show you how

Columbia Office:  803-451-0076


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