I've been approved to buy a duplex that has some active knob and tube wiring. I called an independent agency who claims to represent 25 carriers and the agent says that not even one of them will write a policy on a home with K&T. I have a really hard time believing that, especially considering the mortgage was approved with no issue on the knob and tube at all. I haven't spoken to the current owner about who they are using for their homeowners insurance but obviously they've found a company that will accept it. Can anybody offer any suggestions? I've read online and it seems like Nationwide might allow the knob and tube to stay. Please help! I really want this house but neither the seller nor I are willing to come out of pocket $7500 to have the wiring updated at this time. Thanks!
Read more: Need an insurance company that will write a policy on a house with knob and tube wiring?
