This document does not discuss the details of risk management, such as

• Liability insurance associated with ownership of real property
• Life Insurance
• Automobile insurance (no-fault, liability, under-insured, collision, comprehensive); e.g., see http://www.dmv.org/mn-minnesota/car-insurance.php
• Social Security benefits for disability and death
• Diversified investments
• Professional development/life-long learning

Insurance as a strategy to manage risk to protect your assets from claims made by someone your injure, such as automobile insurance in case you case a vehicle accident:  collision, comprehensive, personal injury and liability insurances.  A minimum amount of automobile insurance is mandated by state law for persons owning a vehicle.