Kanetix
Property Insurance Forum

My rental has knob and tube wiring, will I still be able to obtain tenant coverage and will it be at a high premium? Whenever I inquire about a quote (tenant insurance vs. home insurance??) the question is never asked and I wonder if anything happend would my coverage be void as result upon investigation?



Thanks,

Buildings with active knob and tube wiring, aluminum wiring or 60 amp service are hard to insure. In fact, most insurers wont even consider insuring the building whether you are a homeowner or even a tenant. Sometimes brokers or agents may not ask about knob and tube wiring if you are applying for tenants insurance. Often consumers wont mention they have knob and tube wiring in their rental. This dont ask, dont tell scenario is dangerous. Ultimately, both parties are responsible to provide this information to the insurer, even if it means that they decline to insure you. My recommendation is to be upfront about the electrical wiring. It may mean that you have to shop around a little more for the proper coverage but this is a must if you want to cover yourself properly in the event of a claim. Alternatively, this provides the motive to rid the building of the old electrical and upgrade it with safer wiring.

Sean Graham, Principal Broker at KTX Insurance Brokers