The most common and most likely answer to this crossword clue is the 6 plus 6 letter word CAVEAT EMPTOR
C
A
V
E
A
T
E
M
P
T
O
R
Buddy explains!
The straight part
We know that "take things at your own risk" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case take things at your own risk = caveat emptor.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.