200 amp Elec. panel (insurance, home, home inspector)

[CharlotteCo]

Just got word from my Home Inspector that there might be an issue with the panel in the home I'm looking to purchase, it's a challenger and 23 years old. He stated some Insurance Companies might not insure the home with this panel. Will need to contact various insurance Companies to see but was wondering what a ball park figure would be to replace it and the breakers . I understand there are various factors that could effect the price but was wondering if anyone has gone thru this recently and could tell me what it cost you. Also, maybe an Insurance Company that's not so picky. He said the panel is fine, he saw no issues with it, just wanted to give me a heads up about some insurance companies being overly cautious and refusing to issue a policy. Thanks in advance.

[TamRE]

Originally Posted by CharlotteCo

Just got word from my Home Inspector that there might be an issue with the panel in the home I'm looking to purchase, it's a challenger and 23 years old. He stated some Insurance Companies might not insure the home with this panel. Will need to contact various insurance Companies to see but was wondering what a ball park figure would be to replace it and the breakers . I understand there are various factors that could effect the price but was wondering if anyone has gone thru this recently and could tell me what it cost you. Also, maybe an Insurance Company that's not so picky. He said the panel is fine, he saw no issues with it, just wanted to give me a heads up about some insurance companies being overly cautious and refusing to issue a policy. Thanks in advance.

I just had a seller replace theirs for $1600 on a 1527 sq ft home. They had a Federal Pacific panel which is another one that is not always insurable. Replaced with a Square D Panel.

[born01930]

I replaced mine 2 weeks ago with Square D for $1150 includes the permit

[CharlotteCo]

Thanks Guys^^^^^^^^^^^^^Doesn't sound bad at all. Never had it done before and wanted to be prepared for sticker shock if necessary.

[born01930]

FPL will take at least 6 weeks before they can come and pull your meter

[Harbor Hopper]

^^^^ Not 6 weeks. Never had it take more than 3 weeks for FPL. We do this all the time. There are 5 main panel brands that are red flags for the insurance co. Cost can range from $1,100-1,500 depending on access and wire size from the mast to meter, and meter to panel. I always try to get the seller to go 50/50 on the cost since it's a safety issue. Very common down here. If you go Square D, spend the extra $100 and upgrade to the "QO" series. better breakers and worth it. Many electricians ONLY offer the QO series.

[CharlotteCo]

Originally Posted by Harbor Hopper

^^^^ Not 6 weeks. Never had it take more than 3 weeks for FPL. We do this all the time. There are 5 main panel brands that are red flags for the insurance co. Cost can range from $1,100-1,500 depending on access and wire size from the mast to meter, and meter to panel. I always try to get the seller to go 50/50 on the cost since it's a safety issue. Very common down here. If you go Square D, spend the extra $100 and upgrade to the "QO" series. better breakers and worth it. Many electricians ONLY offer the QO series.

Will do, thanks.

[Restrain]

If doing this, opt for a panel big enough that you have some extra empty slots. This gives you room if you need to add a circuit or two (man cave, etc). Up front cost on the box is not that much in difference.

[born01930]

I am only 1 data point, but when I called FPL in mid-February the earliest they could schedule me for was 30 March. Of the 3 bids I got all offered Square D QO series and they were all within $200. The whole replacement from power off to power on took 8 hours. The inspector showed up right on time, no delays from him or FPL. Getting a little warm to do it now, if your insurance can wait, you may want to put it off till October.

[MartyGras]

I'm just curious. How would the insurance company know what kind of electrical panel you have in your house?

The only inspection reports my insurance company ever received from me was Wind Mitigation and Flood.

Gary