An article in our local newspaper gave the thumbs up for knob and tube…
“There appears to be a wave of fear throughout the insurance industry when it comes to knob and tube wiring,” says BCAA (British Columbia Automobile Association) Insurance product manager Brooke Hanson in a news release. “Companies are asking their customers to fork out thousands of dollars in re-wiring unnecessarily, simply because they have not taken the time to learn about the real issues.”
“Knob and tube wiring is not inherently hazardous as long as it’s properly maintained. If the wiring has been tampered with or if wire insulation is brittle or cracked, it should be restored.”
I don’t know about anyone else but if I see knob and tube I call it a major defect and refer the buyer to an electrician for further evaluation.