Do you value your current home? I'm sure the answer is a resounding yes. I'm pretty sure if you own your home, you also have homeowners insurance. Some may have it because they are required, while others because they want it. Whatever the reason, you should know what exactly it is you have, and why it's a good idea.
I spoke briefly about it in a blog recently, "What is homeowners insurance? Homeowners insurance is in place to protect against two major risks; the first is damage to your own property, the second is liability."
I had also explained here about different coverage options available to you. Honestly, it's worth a read, as it explains what you are actually covered for with your homeowners policy. It may shock you to find out something you thought was covered is not.
Honestly, for the cost, it doesn't make sense to have low coverage with your homeowners insurance. If you have any questions about homeowners insurance, or how it may apply to your current or new home, feel free to reach out.