Buying an Older Home? Why Your Electrical Panel Matters to Your Insurance Company

You found the house. You love the neighborhood. The inspection went well.

Then your insurance company asks: What type of electrical panel does the home have?

For buyers and owners of older homes, this question is becoming increasingly important.

Why Do Insurance Companies Care About Electrical Panels?

An electrical panel is responsible for distributing electricity throughout the home and providing overcurrent protection through its breakers or fuses.

As electrical equipment ages, insurance companies may consider factors such as the equipment's age, condition, manufacturer, installation, and overall risk profile when determining whether they will insure a property.

That can create an unexpected problem during a home purchase or insurance renewal.

Older Doesn't Automatically Mean Unsafe

An older electrical panel should not automatically be assumed to be dangerous simply because of its age.

However, older equipment may show deterioration, may no longer meet the electrical needs of the home, or may contain components that an insurance carrier doesn't want to insure.

The important thing is knowing what you have.

What Should You Look For?

If you're buying or currently own an older home, take a look at the electrical service and ask questions about:

• The approximate age of the panel
• The manufacturer and model
• The amperage of the electrical service
• Signs of corrosion or overheating
• Previous modifications
• Available breaker space
• The condition of the meter and service equipment

Do not remove the panel cover to check any of this yourself. If you're unsure what you're looking at, have a qualified electrician evaluate the system.

Don't Wait Until Closing Week

Discovering an electrical or insurance issue a few days before closing can create unnecessary stress.

If you're purchasing an older home, ask about the electrical panel early in the process.

If your insurance company has specific requirements, get those requirements in writing so an electrician can determine exactly what needs to be addressed.

Already Received a Notice From Your Insurance Company?

Don't panic—and don't automatically assume the entire electrical system needs to be replaced.

Start by determining exactly what equipment the insurance company is concerned about.

At EPO – Electrical Panels Only, we can evaluate the panel and related service equipment and help determine what may need to be repaired, replaced, or upgraded. Our work includes electrical panels and the critical service equipment surrounding them, including meter housing repairs, overhead mast repairs, and underground service conduit repairs.

Next steps

Request an estimate and we'll put the findings in writing for your carrier. Every job carries our written warranty.