The decision not to buy collision insurance on an old car is called
A)risk avoidance.
B)loss control.
C)risk reduction.
D)risk retention.

Question

Quizplus · Accepted Answer

The decision not to buy collision insurance on an old car is called risk retention, as the owner of the vehicle is choosing to accept the potential financial loss if an accident were to occur rather than transferring the risk to an insurance company through purchasing collision coverage.

The Decision Not to Buy Collision Insurance on an Old