Often when I do a quote for a client I hear such things as: "Can't we lower the personal property coverage? I don't have that much stuff.", "I don't have any other structures! Why can't I remove it?", "Can I lower the dwelling coverage? The house is not worth that much." and many, many, many more.
Well, to start with you should ask questions about your coverage. It will give you a better understanding of what is covered, it gives your agent a chance to answer questions that you may have and you may need other coverages based on you discussion. And it makes you a smarter insurance buyer.
Keep in mind that insurance is there for when your things are stolen, the house catches fire, a drunk driver runs into your garage at 3 am, etc. It's pretty important to find out now if you have the right coverage, rather than being told that you don't when you are standing in the yard surrounded by fire trucks and police.
You may think that the property is way over insured now. When you look at the costs associated with building a home, the fire department fees, hotel or rental costs, and replacement of your things, it tallies up fast. Click here to see what carriers have to take into account under California's regulations. While you can also choose the lowest cost policy with the least amount of coverage you can get away with, would it be worth it? Maybe. Are you willing to accept a large loss, or do you have a hoard of cash to make up the difference?