When someone buys a car insurance policy,he or she buys _______.

Question

Quizplus · Accepted Answer

A State Farm Insurance agent issues a policy for an automobile. Yes, the customer will receive a written policy document. But the policy itself is not the product in the sense of a physical good such as a box of cereal or a bottle of shampoo. Instead, the product is the sense of financial security the insurance policy provides to the customer. It is the confidence that if something dire happens to the car, State Farm will fix it or replace it.

When Someone Buys a Car Insurance Policy,he or She Buys