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There is also a type of car insurance policy called Personal Injury Protection (PIP) that covers an insured driver for injuries acquired from a car accident, regardless of fault. Cars don't come cheap either. But you should also be careful of what kind of car insurance you have. You wouldn't want to invest $15,000 into a car only to get into an accident a week later. For rental cars, there is also a type of car insurance that will pay for damages caused by an accident on the road.

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