If the insulation on your wiring is made of cloth, it may need to be rewired. Over time, cloth can deteriorate and become brittle. Eventually, it may fall off and leave bare, uninsulated wires. Uninsulated wires can spark, start a fire, or if touched, cause electrical shocks. Generally, the older the cloth insulation, the more likely a home needs to be rewired. Homes built before 1950 are likely to have deteriorating cloth insulation.
Older homes also may need to have the electrical panels replaced as well. The electrical panel is the box that holds your circuit breakers or fuses. It receives power from the electric company and distributes it to all the circuits in your home. Older electrical panels may not provide sufficient power for current homeowners’ needs. The result could be circuit breakers flipping or fuses blowing. Many homes also have aluminum wiring rather than copper, which has proven to be a fire hazard.
The electrical system doesn’t need to be replaced to qualify for a good insurance rating. But, it does need to have been updated within the past 25 years to meet current codes. That means circuit breakers; no old-fashioned fuses.
Many insurers refuse to provide insurance to homes with older electrical systems that don’t meet the current safety codes. If you have such a home, you may find your options are limited to companies that charge higher rates.
If you’ve recently updated your wiring, contact The Russell Agency. We will review and update your current policy.