Yes, some of them are the random variables affecting your insurance, such as personal injury protection (PIP).
The insurance industry is known to be one that handles the random variables as well as the expected values.
Note that a lot of people will buy several kinds of insurance, such as homeowner’s or renter’s insurance, life insurance, and others.
Therefore, Yes, some of them are the random variables affecting your insurance, such as personal injury protection (PIP).
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Investigating Vehicle Insurance
All states require car insurance, but not all states require the same coverage. Each state defines the minimum insurance coverage that is required. According to the Minnesota minimum coverage requirements, for example, all licensed vehicles are required to have coverage for:
personal injury protection (PIP)
liability
uninsured motorist
underinsured motorist
