Outdated electrical panels pose serious safety risks, including electrical fires, electrocution, and property damage. Panels from the 1970s and 1980s, particularly Federal Pacific and Zinsco brands, have documented failure rates that make them genuine hazards. Beyond safety concerns, old panels can’t support modern electrical demands, leading to frequent power outages, damaged appliances, and the inconvenience of constantly resetting tripped breakers. You’ll also have trouble adding new electrical circuits for home improvements or electric vehicle charging. Insurance companies increasingly refuse to cover homes with known hazardous electrical panels, or they charge significantly higher premiums. Some mortgage lenders also require electrical upgrades before approving loans, so delaying the upgrade can create problems when you try to sell your home.