Electrical experts Please?

Please, get at least THREE estimates. It's hard to answer your question as there are as many contributing factors as there are local municipalities. Generally, if the three estimates are within $100-$200 of each other, then you know that everybody is on the same page. However, if you have one out of the three that is considerably higher, or lower than the other two, go for the middle one. Good luck in all you do and may God bless. Merry Christmas!

If it's a standard 100 amp to 200 amp panel, it should NOT cost more than $400 to $1000 to just replace the panel itself. depending on what area of the country you live in (large cities in the West and Northeast are twice the cost of small cities in the Southeast or Midwest).

It may be that there are other problems the electrician found, like perhaps the service drop from the meter needs to be replaced too or there are grounding issues. Ask him for an itemized list of ALL the work that his estimate includes, with each item priced separately. A total price like that would be for upgrading the ENTIRE house wiring for a house that size. If you are still unsure you need all that work (instead of just the panel) you can usually contact your local building inspector in whatever town or borough you live in and have them verify whether your house electrical system is out of code or not. Also, some power companies will offer free safety inspection services for your piece of mind. Check your electric bill for a contact number to call to ask about that.

And do get a couple of other bids. Most contractors are desperate for work around this time of year and you should be able to find some that will give you an honest price. Make sure they are licensed and insured -- make them show you the paperwork to prove it BEFORE you sign a contract. And don't pay more than 50% of the price to start. You have the right not to pay the final payment until they can prove that the local inspector approved the work and signed off on the permit.

I have been an electrician and electrical estimator for almost 30 years -- I know what I am talking about.

The breaker box in my house is about 30 years old and works just fine. The only way I could see a newer one being in need of replacement is if it either was improperly installed or suffered damage through a lightning strike, etc. If the wiring in your home is good then that quote sounds unreasonable but if your wiring is bad then it's about what I'd expect. It's really hard to say more with limited information.

Yes, why do you think it needs to be replaced? What's the problem? If you are having problems, why do you think it is the panel? Unless you need more room for more circuits, I don't get it. The price is outrageous. What does bringing it up to code mean. There is something you aren't telling us.

Right off the bat, how do you know it needs to be replaced?