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.

Share |

Have A Question About This Topic?

Thank you! Oops!

Related Content

What Does Boat Insurance Cover?

What Does Boat Insurance Cover?

Learn the basics of boat insurance, including what it is, what it covers, and why you may want to consider protecting your watercraft against accidents.

3 Ways Charitable Giving Can Benefit Your Business

3 Ways Charitable Giving Can Benefit Your Business

More and more companies are choosing to donate to charities through volunteering their time, resources, or both.

Managing Your Lifestyle

Managing Your Lifestyle

Using smart management to get more of what you want and free up assets to invest.