google knob and tube fire risk to confirm I am right.

Homeowners insurance underwriters may refuse to cover it
As existing K&T wiring gets ever older, insurance companies may deny
coverage due to increased risk. Several companies will not write new
homeowners policies at all unless all K&T wiring is replaced or an
electrician has certified that the wiring is in good condition.

I have a ton of references if anyone is interested, it appears most
homeowners insurance companies today wouldnt insure a home with K&T