My husband and I are under contract on a house that's turned up with aluminum wiring. We are getting a quote from an electrician to repair with COPALUM and will be negotiating with the sellers re: who's paying for it, etc., but my question is about insurance.
We've talked to multiple companies and gotten wildly varying answers, even sometimes from different agents. Example, MetLife and Progressive say they'll cover us even without any mitigation/repairs. A State Farm agent we called yesterday wouldn't even give us a quote and said they wouldn't cover us without a complete rewire, but another agent we talked to today did give us a quote.
So why is this? Why will some companies cover us and some won't? We're in CO, Denver area.
We've learned and are considering everything listed in this post:
http://forum.mrmoneymustache.com/real-estate-and-landlording/new-home-freakout-thread-saga-(latest-aluminum-wiring)/, but any further information anyone feels like sharing would be appreciated! The main thing we're concerned about is the resale value of the home later on--it really seems like COPALUM is enough from a safety perspective, but we're worried that regulations are going to change or insurance will get stricter etc.