I can only speak to how my company handles things in my state. The Client can state the approximate age of repairs/replacement/equipment. If during an inspection process they find that the wear or dates don't match they will make the appropriate adjustments to the policy and you'll receive notification. If no inspection happens and a claim occurs the claims adjuster will take the apparent age of things into consideration. That can work for or against the insured depending on the claim. But you are right, underwriting guidelines have tightened up considerably. Expect more questions, higher rates, and more responsibility pit on the owners to accurately know and disclose what they own.