If your current electrical panel has any type of damage this is a sure sign that you are in need of replacement. If your lights flicker when you start a larger appliance or if your breakers are frequently tripping you will need an upgrade. Another sign that you need an upgrade is if your panel has no more room for expansion.
An electric service upgrade normally involves the complete replacement of electrical service around the house. This includes the line side service entrance cable, meter base, weather head, load side service entrance cable, the grounding and bonding system, and, of course, the electric panel itself.
Although upgrading your electric panel can bring a sizeable bill, it is far less than the cost caused by an electrical fire, or the losses from a home insurance non-payout.