How do you eliminate risk?

•Avoid it.  You can take care of yourself, avoid high risk occupations, eat well, and exercise.

•Reduce it.  You can reduce some risks by adding fire extinguishers and burglar alarms, adding airbags, or getting regular medical checkups

•Assume it.  You  can assume the risk through self-insurance.  If the costs are not too high, you can assume some risks yourself

•Transfer it.  You can transfer the risk to others by purchasing insurance.  You are paying premiums to transfer the risk to an insurance company.