<prompt> Human: I have a mortgage, and there is an accompanying requirement for my mortgage lender that I maintain homeowners insurance for the life of the loan.My agent recommended that I get insurance for the full value of the property, and my insurance agent recommended that I only take out a loan for a fraction of that amount.What is the minimum necessary amount of insurance for a home to be approved for a mortgage?Is it safe to have less insurance than the value of your home or its cost to rebuild?  <response>: Is it safe to have less insurance than the value of your home or its cost to rebuild?If your house burns down, youll probably want the full replacement value of your home and your possessions. 