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I dont think average folks care about transparency, they mostly care about the bottom line. I would bet that if you offered a black-box $50/month with no explanation and a transparent, easily understood $60/month people would choose the cheaper option 9 times out of 9.

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The problem is that without transparency you can easily be manipulated into thinking that you are getting a good deal. Maybe in your example everybody else is getting a $30 deal but you will never know.

I am pretty young and have never bought any insurance, but am currently shopping for some.

Since I hear relatively many "insurer didn't pay" stories (often because of a weird detail), I don't have much trust in insurance and do place a lot of value on actually understanding what will be covered.

I'm still a fan of a good deal, but confidence in reliability is a pretty important part of the features, no?

I always read my insurance policies to see what's covered, to be honest insurance policies are very readable and fairly easy for the lay person to understand.

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