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Yes, you can convert a gas water heater to an electric one, but it is a complex process. You will need to ensure there is adequate power for the new electric unit, as they require more power than gas models. The project also involves safely closing off the gas lines and ventilation, and some cities may require a permit for the conversion. The cost can range from $1,500 to $4,100, depending on the installation scope, plumbing and electrical work, and the water heater model. For an accurate quote, it's best to contact a local professional. Also, be aware that your monthly utility bills may increase after the conversion, as natural gas is typically cheaper than electricity.

Your water heater's age can affect your homeowners' insurance policy. Many policies will ask how old the heater is when you first apply for a policy—and they may make you replace a model that's over 10 years old. 

Even if your policy permits you to have an older heater, it may significantly reduce the amount of protection available. If an older water heater suddenly leaks and causes damage to parts of your home, your policy may not cover it.

The amount of time it takes to replace an electric water heater will depend on the skill level of the individual who is replacing it. For example, if you replace it yourself–and you don’t have much experience–you can expect the project to take a full day. 

However, if you have a certified plumber or water heater contractor install your new water heater, it can take as little as 2 to 3 hours.

You can use multiple tankless water heaters, but that doesn’t mean you should. Adding multiple tankless heaters adds considerable cost to your home in both parts and installation costs. Also, you’re adding many more points of failure in the system, making plumbing issues harder to diagnose. More heaters mean more maintenance, and insurers may want a word regarding the increased risk of water damage. A single, larger unit makes more sense in most situations.