Old homes are usually difficult to insure due to the many risks posed by the age of the structure. It is especially much harder if the home is not properly maintained. One of the potential risks are fires caused by faulty electrical wiring. Power surges are common in most cities, and old electrical systems cannot handle the sudden increase in energy.
Additionally, modern standards are much different from those from decades ago. What are the signals that your house may need rewiring? What are the risks of old electrical systems?
Here are a few things to keep in mind before you consider calling your home insurance provider:
Some Evidence That Your Home Needs New Wires
Whether you have an old or not, there are signs that will tell you that your electrical wiring needs an inspection. If you notice a burning smell that does not go away, it is possible that some wires are vulnerable. This usually smells like rubber on fire, and if the smell gets stronger, you may need to turn your main electricity source until you can get it checked to prevent any fires from starting.
Another sign is when your lights are constantly flickering. Furthermore, frequent tripping of circuit breakers is also a dangerous sign. These are warnings that your electrical system cannot handle the power the flows through the wires. You may also want to check your electrical plugs to see any discolorations or signs of wear and tear.
Replace Wirings That Are Older Than 10 Years
If the wirings in your home have not been replaced for more than a decade, then a replacement is immediately required even if you think that it is still working. Replacement is more critical if your system is still using aluminum wires or knob-and-tube wiring. These wiring types are more susceptible to fires. Aluminum wires easily overheat, which can lead to fires.
Furthermore, aluminum types are subject to oxidation, which weakens them significantly. They are less ductile and prone to extreme vibrations. Experts usually suggest copper wires as they reduce the risks of fire.
Insurance Coverage for Electrical Rewiring
As discussed above, telltale signs of damages in your home’s electrical system and aluminum wirings put your house to higher risks of fire. While you may think that you cannot get insurance because of this, that is not the case. You may have to pay for a higher premium to account for the fact that an older structure with old electrical wiring is more susceptible to serious issues.
Start by hiring a licensed electrician to inspect the entire wiring system in your house. They can make recommendations such as new breakers or added features like Canadian shunts that could detect changes in voltage effectively. Professionals can also give you an estimate of the cost of rewiring. Then, you can inform your insurance provider that you want to apply for a new-wiring credit.
The coverage may depend on different factors, but if you have older homes, you need to prepare before any serious issues arise.
Your electrical system is one of the most vulnerable parts of your house. This is especially true when you have an older home. While there is home insurance that can cover any rewirings in the future, make sure that you get ahead of any issues by having it inspected and properly doing maintenance. It will also help you from paying high premiums when applying for claims.