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Buying car, business or home insurance as part of your emergency planning strategy is somewhat similar to playing the lottery.
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Many people who buy lottery tickets believe they will win, while also believing they will not be involved in a vehicle collision, or have a building catch fire that will personally impact them.
Advertisements for lotteries essentially make the argument: this person won, you could too!
But there is an underlying assumption there that subtly misleads the consumer.
The probability that any one specific person will win Lotto 649 with a 6/6 match is 1 in 13,983,816, which is the total of the possible number combinations.
The…
