house value decrease does your home insurance policy premium decrease also?so when I bought my home it was valued at $400k+ it is now valued at less than $300k. Does that mean my insurance policy should adjust and I pay less for my policy or not? has anyone called their home insurance policy holder and got them to adjust premium down?May 08 2009 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.