Is there a reasonable Knob and Tube Insurer?

Question

I'm being quoted for insurance upwards of $1500/yr because of partial knob and tube wiring. Anyone got an insurer who is knob and tube friendly?

Tony Wilcox · Answer

They won't ask, but if there is a fire or other claim due to it they will deny it.

Mind me asking which carrier insured it for that. I am always looking to add companies to our portfolio and if they did that I need access to them!

Tony Wilcox · Answer

If they truly are insuring the home with knob and tube, and for only $1,500 you got a steal. But it makes me nervous as almost nobody will do it.

Bukka Levy · Answer

Thanks @Zeke Liston but I was able to find a policy under $1k. After I close this I’ll revisit the policy as well as updating the electrical.

I realize I should’ve consulted here way earlier.

Bukka Levy · Answer

I’m seeing this response in more places than one. It’s strange to me because I’ve owned several homes with knob and tube, as it’s pretty common where I live, and have never had a problem getting a policy or with rates.

Genuinely makes thing quite confusing. I have to assume this is due to different experiences in different states.

This is my first deal in Ohio, which is partly why I was caught off guard, but even my agent was surprised I was having a difficult time as they do many of these types of home with no problems.

Bob Ebaugh · Answer

In Florida, I don't think any traditional company will write a home with knob and tube wiring.   For that, you have to go to the surplus lines market (high risk).  Depending on property value, $1500 sounds like a good rate.  Without any knob and tube I have 8 properties, average value 180K, average property insurance $1365.  Florida is or close to the highest cost property insurance market in the nation because of windstorm risk.

That said, knob and tube is not good.   We had that in 2 structures, it was a single 30A circuit for all outlets and ceiling lights.   While the attic distribution wire was sufficient for 30A, the feeder lines were not.   It's a real hazard.   We re-wired and updated the electric panel right after purchase.

Tony Wilcox · Answer

Ah ok that makes sense now. Didn’t think someone would do knob and tube for that price.

Bukka Levy · Answer

Originally I got a quote from NREIG, but in the end I went with don't ask don't tell.

Tony Wilcox · Answer

Zeke, State Farm can't do knob and tube as a heads up.

Also what carrier were you able to get to write it with knob and tube?

Zeke Liston · Answer

Well done!

Zeke Liston · Answer

$1,500 doesn't seem awful but my guy at State Farm might be able to get you a better rate @Bukka Levy.

Is there a reasonable Knob and Tube Insurer?

Most Popular Reply