Abstract:
This paper explores the degree of consumers with regard to their insurance knowledge and how they relate to consumer decision-making when buying insurance policies. The study also examines the issue of whether the decision making in matters involving insurance varies among the groups of educational qualifications. The key survey was done on 70 respondents where a structured questionnaire was used on a five-point Likert scale. According to the results, the average level of insurance awareness (3.5143) is considerably represented compared to the neutral benchmark value (u = 3), which means that there is a moderately positive attitude to the policy features, benefits, and claim processes. The correlation analysis, however, has not revealed significant relationship to exist between insurance awareness and consumer choice (r = -0.222, p > 0.05). Also, the results of the ANOVA show no significant difference in making a decision based on the groups of educational qualification. The study concludes that despite the fact that the awareness level is satisfying, the level does not play a significant role in purchasing decisions, so more strategies to contact the consumer should be developed.