What are the California legRita Ranchie has owned her home for 7 years. She purchased it for $300,000 and the insurance company required a policy with 80% minimum coverage she obtained a $300,000 HO-3 homeowner's insurance policy. Rita has a $2,200 deductible on the policy. The policy coverage has never changed, even though the replacement cost of the home is now $450,000. al limits for auto insurance?