Not automatically, and anyone who says so without inspecting is selling. Knob and tube in sound condition, never buried in insulation and never tapped into carelessly, is a documented condition to manage; knob and tube that has been buried, spliced, or overloaded is a hazard to correct. The inspection reads it room by room and the written finding separates the two, which is also the document your insurer actually wants. Partial rewiring of the burdened circuits is the common middle answer.
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