What are search costs?
A)Costs that the person desiring to be insured undertakes to find out which policy is best
B)Costs that the insurance company incurs to attract clients
C)The costs that the insured individual incurs when attempting to collect cash from the insurance company
D)Overhead costs
E)None of the above

Question

Quizplus · Accepted Answer

Search costs refer to the costs incurred by the consumer to search for information about insurance policies and decide which one is best suitable for them. These costs include time, effort, and money spent on researching, comparing, and evaluating different insurance policies.

What Are Search Costs