Part I: Please respond (at least 100 words) to the following scenario. Consumers commonly focus on the price when buying auto insurance.They feel less pain from buying auto insurance by paying as...

Low premium car insurances can backfire
People buy expensive cars but when it comes to car insurance they opt to choose insurance with a low premium. This is because car insurance works with the concept of either using the insurance or losing it. Low premium insurance will save your pocket for a certain timeframe but if any mishap, accidents or damages happens and you want to claim your car insurance, problems might occur with the amount you receive which will be...