I live in an old house (for Florida), built in 1947. It still has some of the old cloth covered wiring. I asked an electrician who was working on a bathroom remodel that opened the walls and ceiling if it should be replaced. He said it was in good condition, the thread wasn't deteriorating and didn't see a need to. It would be a major job (I think) to replace it, and our budget is completely depleted after dealing with a number of unseen expenses. The issue is, our Ins. Co. said they could get us a better deal on Homeowners Ins., more coverage for less, but the carrier wants us to replace the wiring. Should I worry about this? I told the Ins. Co. I would stick with the old policy.