Latest Update:
Got the latest quote. $3,400. I think I'm just going to have to do this myself or become friends with an electrician who will let me do the work and just sign off on it for some beer and BBQ. As I said...my cost to do it is about $725 in materials. And that is the big box store price with off the shelf parts, nothing special order. I'd like to think an electrician buying tons of supplies regularly gets even better prices through their suppliers.
@dlundblad In an underground trench I'm told the copper is more corrosion resistant than aluminum if water gets in it. I'm going to look into this, not exactly sure if it is true or if it is required.
@Dave Hess Are you sure that is true? I know insurance doesn't cover fraud, i.e. you try and burn your house down...but I'm pretty sure they cover stupidity. My house was built in 1870 and I can probably guarantee that 99% of the electrical, plumbing, framing, etc is not up to code. The rules were different back in the day and people just did what they wanted to.
At what point is it just grandfathered in? Would insurance deny a claim if the owner of the house, four owners and 70 years ago did a bad job wiring? Would I have to sue his descendants for retribution? Obviously if the work was done very recently that is a different story but I still wonder how insurance handles that.