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.
Gun owners need to make sure that their homeowners policy covers the full value of their firearm(s) as personal liability.
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While price is a big factor, there are other important factors to consider when choosing the right life insurance policy for you.