If you believe your home is insured for too much, supply your agent or broker with a copy of your survey or building plans and ask that your home be re-estimated. Be prepared for the possibility that your home is not currently being insured for enough. Market value is not replacement cost. If your home is underinsured,- you put a full dormer on two years ago, and never notified the company, in the event of a loss, you will probably lose the battle. It is your responsibility to notify the company regarding any material change to your residence.
Many people insure their homes to an amount equal to their mortgage.
Rather than fight with the adjustor on your lawn after a fire, insure your home correctly. The premium difference is minimal in most cases. Safety Equipment Discounts are available for safety equipment. If you have taken the Coast Guard certification course, check with your current company as to the availability of a discount. Flood Insurance rates are standard, so you cannot shop for a better rate.