Winter is a hard time for seniors, and most Texans for that matter, as we are used to much warmer temps. Many find themselves on their own during storms and cold fronts, making senior safety a crucial detail to focus on. Luckily, staying safe in the winter doesn’t have to be impossible or even challenging!
Insurance is Only One of Four Methods to Manage Risk
Buying insurance only covers a portion of the risk management puzzle. There are actually four methods in which to manage risk.
The four methods to manage risk are avoidance, reduction, transfer and retention.
Avoidance is the removal of the potential exposure or Hazard. An example is homeowner liability claims from dog bites. If you don’t want to be sued from your dog biting someone, then manage the dog to avoid the risk.