It's never good to wait until the electricity in your home actually outright fails before you have the home's wiring updated, and an older home especially may need to be updated with new wiring and electrical components. If you've put off having this done to your home, note a few reasons why it's so essential to maintain the home's wiring, and how it can protect your house and your electronic devices as well.
Lack of power
Older wiring may not be able to deliver the power an electronic device needs in order to function properly. However, you don't want to assume that an electronic device is getting full power just because it's running; those devices may have other parts that are not operating fully because of this lack of needed power. In turn, your television, computer, kitchen appliances, and other such devices may operate, but may be suffering more wear and tear because of not getting enough power to run all their components. Having your house rewired with updated wiring that can deliver the amount of power those devices need will keep them from failing sooner than they should.
If your home's electrical systems are old, this probably means the home has far too few outlets. In turn, you may be plugging too many cords into one outlet, potentially overloading it, and this can increase the home's risk of an electrical fire. The outlets may also not have their own separate ground fault interrupter, which is an added safety measure against an overload. Updating the electrical systems can mean more outlets and the ability to add any safety features you need, to ensure that the home's outlets don't get overloaded and cause sparks, bare wires, frayed wires, and the like.
Rust and water damage
An older home may have suffered water damage over the years, from water leaks, humidity, and the like. This can cause rust around wires and electrical components, as well as damage to rubber or plastic coatings around wires. In turn, those wires can be exposed and frayed, and more prone to causing sparks and potentially electrical fires.
Rust around the connectors of electrical components can also interfere with the power supply to those pieces; in turn, they're not getting full power, and are suffering early wear and tear, as mentioned. When you have the home inspected and rewired, you can also remove any signs of rust and other such damage, and ensure the wiring and the electrical components are safe and are getting the power they need.