Perception of Buyers of Comprehensive Passenger Carrying Vehicle Insurance in the State of West Bengal

Abstract

Passenger-carrying vehicles are a common sight on the roads of India. We will be financially affected when the vehicle we own meets with an accident.

The purpose of the research has been to study the customer’s perceptions of comprehensive passenger-carrying vehicle insurance in West Bengal and determine the variable which significantly influence’s the buyers.

Our study has been to find out the factors influencing the buyer in his purchase decision with the help of exploratory factor analysis. This analysis was used to reduce variables and its further application in the structure equation model test.

The measurement model and the structure model, has been used in the structure equation model in order to determine the significant variables influencing a comprehensive passenger-carrying vehicle insurance buyer in West Bengal.

The result of the study indicated that secure feeling is the significant variable influencing a purchaser to buy a comprehensive passenger-carrying vehicle insurance policy in West Bengal.