Does this insurance coverage for a househack make sense?

[Byron W.]

Info about the property:

3 unit brick building located on southside of Chicago. Purchased for $442k. Appraised for $445k. Currently househacking it.I am out of my depth when it comes to insurance plans but after hours of research, this rate seems like it makes sense. It's the rate that an insurance broker provided me. My current insurance is $3100 with State Farm and this plan is at $2492. I asked if we could knock down personal property coverage to a lower number but apparently I can only lower that if I lower the dwelling amount.

Should I lower the dwelling amount? From what I've read, it makes sense to keep this pretty high in the worst case event that the building burns down. For those of you more experienced with insurance premiums, please let me know your thoughts. Thanks!

[Todd Rasmussen]

@Byron W.

If you only talk about money when you buy insurance, you'll only get cheap. Do you care if your 3 unit brick building gets replaced as a brick building or are you okay with common construction? That could probably save you a bundle right there. I would raise your deductible way before I lowered top end coverage.