insurance

[in-shoor-uhns, -shur-]

noun

1. the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved.

2. coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract.

3. the contract itself, set forth in a written or printed agreement or policy.

4. the amount for which anything is insured. insured.

5. an insurance premium.

6. any means of guaranteeing against loss or harm.

   Taking vitamin C is viewed as an insurance against catching colds.

adjective

1. of or relating to a score that increases a team's lead and insures that the lead will be held if the opposing team should score once more.

   The home run gave the team an insurance run, making the score 7-5.

insurance

/ ɪnˈʃʊərəns, -ˈʃɔː- /

noun

1. 1. the act, system, or business of providing financial protection for property, life, health, etc, against specified contingencies, such as death, loss, or damage, and involving payment of regular premiums in return for a policy guaranteeing such protection

   2. the state of having such protection

   3. Also called: insurance policy. the policy providing such protection

   4. the pecuniary amount of such protection

   5. the premium payable in return for such protection

   6. ( as modifier )

      insurance agent

      insurance broker

      insurance company

2. a means of protecting or safeguarding against risk or injury

Other Word Forms

• noninsurance noun
• preinsurance noun
• proinsurance adjective

Word History and Origins

Origin of insurance¹

First recorded in 1545–55; insure + -ance

Example Sentences

American savers have poured money into life insurance policies and annuities in recent years, making it one of the fastest-growing categories of investments.

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Over the long term, it plans to acquire fintech and insurance companies and move them to the Avalanche network.

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In previous eras, more investors might have sought insurance from dollar-denominated assets such as Treasurys, pushing up the dollar’s value and weighing down borrowing costs for Americans.

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It counts more than four million customers and sold more than $41 billion of insurance and annuities last year.

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For years, Clear has been the fast lane through airport security—an extra layer of insurance for making your flight.

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Related Words

• allowance 
• coverage 
• guarantee