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

Safeguard Your Digital Estate

Safeguard Your Digital Estate

If you died, what would happen to your email archives, social profiles and online accounts?

Medicare At 65+

Medicare At 65+

65 or older? It may be time to enroll in Medicare. Read to learn if you’re eligible.

Bi-Weekly Payments

Bi-Weekly Payments

This calculator estimates the savings from paying a mortgage bi-weekly instead of monthly.