[Evans, Marv]

The insurance company usually determines the amount of coverage required if you have a mortgage, and insurance is mandatory. If you don't have a mortgage you can take your chances. I imagine you can pick & choose the coverage you want, but you need to be careful that the coverage you choose can actually cover possible damage you're anticipating the possibility of. They over cover some things like interior contents lots of times, so you end up paying more of a premium on those kids of things. You may be able to reduce coverage & preuiums on things like that, out buildings, etc. I doubt you can have the luxury of reducing coverage like you mentioned - hurricanes covered but floods not. I'm in a very high fire zone with sky high coverage costs and companies jumping boat on a regular basis.