You don’t have to work with just 1 broker, you can just forward your current policy’s declaration page and they’ll do the work for you. The price won’t be the same across agencies, because they are tagging on their own commission.
That’s true, but policies tend to be over insured (more profit for the insurance company). Keep in mind that we are talking replacement cost, which does not include the value of the land, or current market price for similar homes. For most cookie cutter homes this is somewhere around $100 per square foot.
Another area that’s often over insured are your possessions, which is sometimes automatically set at 50% of the dwelling limit. How much of your crap would you actually be repurchasing in case of a total loss? And you also need to catalog it somehow or else forget most of it when making a claim.
I do agree with getting coverage for replacement cost.