Will the warranty replace a Federal Pacific circuit panel?

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UHP cannot replace a non-malfunctioning component/appliance. While it may be recommended the circuit panel be replaced due it being a potential fire hazard, upgrading or improvement of systems is the responsibility of the homeowner. http://www.ismypanelsafe.com/fpe.aspx

Contracts effective on or after May 15, 2015 do not cover items found to be defective by the product manufacturer or by the Consumer Product Safety Commission for which any recalls or warnings are or have been issued. Repairs or replacements deemed necessary as a result of any manufacturing defect including improper design, use of improper materials, or any other manufacturing defects are not covered by this contract.