Sara and John Metfict are buying a new home in New York State. The property...
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Sara and John Metfict are buying a new home in New York State. The property is in a wooded area in the Adirondack Park, near a community that experienced a severe wildfire two years ago. The home is valued at $400,000, not including the land, and the Metficts have about $100,000 in personal property, including $10,000 in jewelry. Their net worth, including their home equity, is about $250,000.
What other risk management tools should the Metficts employ to reduce their risk of losses due to wildfire?
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