what is the typical amount one needs to insure?
my lender is asking for the full loan amount to be the "Dwelling Coverage" ? that obviously protects them, but I'm overpaying for insurance..
How do you deal with this?
Also, to make things more confusing, insurers have a base dwelling coverage, and an optional increase (of about 25%) that it can go up to.. I don't know if the bank takes that option (line item) into account as the total insured amount.