Pursue the cheapest possible policy

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Reference no: EM131301814

1. Consumers commonly focus on the price when buying auto insurance. They feel less pain from buying auto insurance by paying as little as possible. However, this strategy can backfire, because the insurance they receive may reflect the low price they paid. Describe your own behavior when purchasing auto insurance. Do you request specific insurance coverage or pursue the cheapest possible policy?

2. Read one practical article of how psychology affects decisions when buying auto insurance. You can easily retrieve possible articles by doing an online search using the terms "psychology" and "buying auto insurance." Summarize the main points of the article.

Reference no: EM131301814

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