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Sufficient dwelling coverage. Ann and Daniel have owned their home for 20 years. When they purchased it for $384,300 in 2015, they bought a $307,440

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Sufficient dwelling coverage. Ann and Daniel have owned their home for 20 years. When they purchased it for $384,300 in 2015, they bought a $307,440 homeowner's insurance policy. They still own that property, even though the replacement cost of the home is now $662,000. #1 If Ann and Daniel suffered a $50,000 fire and smoke damage loss to the home, what percentage and dollar amount of the loss would be covered by their policy? (5 points) R = (L-D) x [1 + (RV x 0.80 or 1.00)] R = reimbursement payable L = amount of loss D = deductible, if any 1 = amount of insurance actually carried RV - replacement value of the dwelling #2 How much insurance on the home should Ann and Daniel carry now to be fully reimbursed for a fire and smoke damage loss? (5 points)

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