What is risk in insurance? Come on, understand so that you don’t make mistakes in the future

Most people are still confused about what risk is in insurance. More precisely, we often ask what can be insured.

 

Queenews.com – Most people are still confused about what risk is in insurance. More precisely, we often ask what can be insured. If you are looking for still wondering, then here is the answer!

Risk is an uncertainty. You also have to know which risks can be covered. Come on, take a look first!

Pure Risk

If something happens, it will definitely cause losses and if it does not happen then it will not cause losses or will not cause profits. Examples: fire, accident

Speculative Risk (Speculative Risk)

Contains two possibilities if the event considered a risk actually occurs. On the one hand there is the possibility of financial gain and on the other hand there is the risk of loss. Example: stock investment

Special Risk (Particular Risk)

A risk whose impacts and causes only affect the local (personal) environment both in quantity and quality. Example: someone steals, the risk posed only affects that individual

Fundamental Risk (Fundamental Risk)

In contrast to specific risks, fundamental risks will have a very broad impact. Example: natural disasters

Individual Risk

Individual risks are various kinds of possibilities that occur in everyday life that can affect a person’s financial capacity, assets and risk of responsibility. Examples: physical disability, loss of job

Property Risk

Losses related to ownership of an object due to loss, theft or damage.

Liability Risk

This risk is to cover other people’s losses due to our actions or things we cause. Example: You hit someone and have to compensate for the loss.

Let’s understand the types of risks and benefits of joining an insurance program so that you can be more careful in living your life and feel comfortable choosing the type of insurance according to your needs.

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