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by chrisplotz
2306 days ago
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The math for any insurance pricing is basically Price = Expected Loss Severity x Expected Loss Frequency. The frequency of getting sued (Liability Coverage) is really low, hence low price, even though the expected loss is high. But yeah it really is mind boggling! PS you've got me thinking about how I would explain insurance to a five year old! My son is 3 and Dan's is 4 so we'll get practicing. |
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