With real estate values in decline and folks looking to save a few bucks, some homeowners are thinking about reducing the dwelling coverage on their home insurance. But don’t be tempted. Home insurance needs to cover the cost of rebuilding a house, so pegging it to the sale price of the home could leave you without enough coverage.
Homeowners should always check the dwelling limits on their policies to make sure they have enough insurance coverage to completely rebuild their house and replace their belongings.
There are better ways to save money on home insurance. cbsnews.com has the list.