You can expect to pay at least $5,000 to replace knob and tube wiring depending on the size of your home. The cost may exceed $10,000 depending on the work and repairs by a licensed electrician.
If you were to keep the old wiring and find an insurer to cover you, expect to pay between 50% and 100% more per year for insurance coverage than an updated home with modern electrical components due to the high underwriting risk, Friedlander says.