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.
In an effort to reduce the chance of considerable damage from robbery or theft, you may have recently implemented (or may still be considering) a home security system. Here’s how adding a home security system to your property may affect your insurance.
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