“For every $1 spent on home electrical upgrades, homeowners can see up to a $3 return in resale value.” – National Association of Realtors
Let that sink in. You might be sitting on a goldmine and not even know it.
At Nola Electric, we’ve seen it firsthand: homeowners investing in smart electrical upgrades not only improve safety and functionality but also unlock surprising financial benefits. One area that’s getting increasing attention? Electrical upgrade insurance benefits.
Let’s break this down fast, clear, and to the point.
Why Electrical Upgrades Matter More Than Ever
Old wiring doesn’t just trip breakers it trips up your home value. If your home still relies on knob-and-tube wiring or you’ve been dodging that panel upgrade since 1998, you’re at risk. Not just of electrical fires, but of losing out on value, insurance discounts, and peace of mind.
Here’s the good news: modernizing your system pays off in more ways than one.
1. Insurance Premium Reduction: The Secret Win
Most homeowners don’t realize this but insurance companies love safe homes.
When you upgrade your electrical system, you reduce the risk of fire and electrical hazards. That risk reduction often equals lower premiums.
Typical savings? Homeowners can see 5% to 15% annual reductions on their premiums after a full panel or wiring update.
But here’s the catch: you’ve got to tell your insurer. They won’t give you the discount unless you show them the upgrade, receipts, or certification from a licensed contractor like us at Nola Electric.
Actionable Tip:
Call your insurance company after your next upgrade. Ask if they offer discounts for updated electrical systems. Then document everything.
2. Boost in Home Value: Not Just Cosmetic
Buyers love curb appeal. But they pay for peace of mind.
A modern 200-amp panel? That’s peace of mind. New AFCI/GFCI outlets, grounded wiring, and surge protection? That’s a selling point.
According to Zillow, homes with modern infrastructure, including electrical systems, sell faster and for more up to $15,000 above similar listings without upgrades in some markets.
And in the New Orleans area? With our storm seasons and humid climate, electrical safety is more than a checklist item. It’s a survival tactic.
3. Protect High-Value Electronics & Appliances
Smart TVs. HVAC systems. High-end refrigerators.
Modern homes are loaded with delicate tech and your 1965 breaker box wasn’t built for that load.
Upgrading protects your investments. And in the event of a claim, insurers are more likely to cover losses when your system is code-compliant.
4. Hidden Benefit: Eligibility for Specialty Insurance
Here’s something most people miss: some insurers won’t even offer comprehensive policies for homes with outdated wiring or undersized panels.
By upgrading, you may unlock access to better policies with higher coverage limits, lower deductibles, or more comprehensive protection.
5. Future-Proofing: EVs, Solar & Smart Homes
Thinking about installing solar? An EV charger? Smart home tech?
You’ll need electrical capacity. And if your panel isn’t up to snuff, you’ll pay more later to retrofit and reroute.
Do it once. Do it right.
Plan now, and your insurance (and resale value) will thank you later.
So, Are You Leaving Money on the Table?
If your home’s electrical system is more than 30 years old, chances are yes. Between higher insurance premiums, limited coverage, and lost home value, you’re probably missing out.
But you don’t have to.
At Nola Electric, we specialize in modern, code-compliant upgrades that not only increase your home’s value but also make it safer, smarter, and more insurable.
Next Steps?
📞 Call us at (504) 766 9210
📧 Email bp@nolaelectricco.com
📍 Or visit us at 410 Bonita Drive, Chalmette