Insurance

What is Risk?

Risk

[risk]

noun

1.

Risk is the likelihood that an insured event occurs, that is, an event in which the insurance company is likely to pay out a Claim. Insurance companies use Risk when determining whether to insure a home, car, or individual, and when setting Premiums. People with lower Risk generally pay lower rates, and people with higher Risk generally pay higher rates.

Have A Question About This Topic?

Thank you! Oops!

Related Content

Prescription Drug Benefits Under Medicare (Part D)

Prescription Drug Benefits Under Medicare (Part D)

Do you need to enroll in Medicare Part D? Read this article to learn more about whether you need this coverage

Did You Know This Fact About Dryer Lint?

Did You Know This Fact About Dryer Lint?

Dryer lint is extremely flammable, and should be cleaned regularly

Combine Your Policies and Save

Combine Your Policies and Save

Some things just make perfect sense in pairs.