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What do most people have insurance? If their house burns down, what do they expect or...

What do most people have insurance? If their house burns down, what do they expect or want to have paid?

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Expert Solution

Most people wish to get an insurance to hedge against the risk of something bad happening. The insurance can be taken for health, house, vehicle, life, or any specific body part as well. This helps us ensure that if any bad thing happens to these he insurance company will look against it.

Following are the expectations after taking an insurance:

1. The person expects a full refund of any issue when faced

2. People want minimal time wastage and expect the insurance claim immediately

3. People are already emotionally hit by a loss and they buy insurance to ensure they don't face a big monetary hit as well

keosha answered 2 years ago
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