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Some insurance-industry / consumer advocacy sources claim that as many as 67% of homeowners may be underinsured in terms of replacement cost. For example, a study of nearly 5,000 homeowners who filed claims after the 2021 Marshall Fire (in Boulder County, Colorado) found 74% were underinsured (i.e. their policy payout would not have fully covered rebuilding). Among those, 36% were “severely underinsured."

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