Joseph is a college student who recently purchased his first car from a friend. The vehicle is a high- mileage vehicle and has a current market value of $4000. What coverages in a PAP do you recommend Joseph purchase? Explain your answer. NEXT- Assuming Joseph only purchases the coverage(s) you suggested, to what extent, if any, would the PAP cover the following situations? Will borrows Joseph's car with Joseph's permission and injures another motorist. The accident is Will's fault. Joseph is driving under the influence of alcohol and is involved in an accident where another motorist is seriously injured. Joseph drives his professor's car for a group of students attending a school function. While driving the car, Joseph is involved in an accident in which another motorist is injured. Joseph is at fault. Most states have financial responsibility laws that require minimum liability limits on auto policies. Would you recommend that a consumer purchases only the minimum liability auto coverage because he/she has "few financial assets to protect"? Why or why not