I am looking to purchase homeowners insurance on my home. It has knob and tube wiring and a circuit breaker. I was told that the knob and tube is a more recent version or wiring and not as bad as the older kind. I am having difficulty finding an insurance company with reasonable rates, under $600.00.The home is valued at $90,000.

The ONLY one I know of, is Foremost Insurance - and you're NOT going to be charged the same rates as a house with updated wiring.

I'd suggest you make the wiring upgrade part of the sales deal, and make the old owner pay for it.

Keep in mind, knob & tube wiring is 1950's. Aluminum wiring came after THAT - so the WIRING in your house, is pushing 70 years old - which means it CANNOT safely handle current household electrical draws. There's not much "older" than knob and tube style.

Your idea of "reasonable" is what has to get adjusted - it's not "reasonable" for a house with 70 year old wiring, to be insurable at $90,000 for under $600. Or $800 either, probably.

Most insurer's consider knob and tube wiring an automatic decline so your lucky to get an offer at all, let alone at what you consider a reasonable rate. If you had to apply to your state's FAIR plan for coverage you would find that $600 was vey reasonable.

Unfortunately, I think most rates will be fairly high in that case. If you haven't already, you might want to contact some independent agents nearby and see what they can do for you.