Should I replace my knob and tube?

The other option with cloth covered wire: old BX cable

https://www.google.com/search?q=bx+cable&rlz=1C9BKJA_enUS672US672&hl=en-US&prmd=sivn&source=lnms&tbm=isch&sa=X&ved=0ahUKEwip9eLF5-DRAhXE7SYKHXL2DjUQ_AUICCgC&biw=1024&bih=653#imgrc=OgR3hrTOM_zLsM%3A

One house in our neighborhood caught fire after a contractor had done work in the house and presumably disturbed the wires. The fire essentially gutted the house. Another new homeowner just replaced knob and tube at a cost of $30,000 (presumably credited by the seller).

Amused said:

If a contractor blows insulation into a homeowner's walls without knowing that the home has K&T wiring they would be negligent and liable.

This is one of the dumbest things written under the ever popular "contractors are idiots responsible for everything bad that happens" category that I've ever read on MOL. Show me a single construction agreement that says a contractor is responsible for knowing what's hidden behind the walls. Good Lord.