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

He said the industry was already under significant pressure following the chancellor's first Budget last October, which pushed up hiring costs with a hike in employer national insurance contributions and the minimum wage.

Read more on BBC

Monitor policy: Beijing’s push into elderly care, insurance, smart health and household services is only going to strengthen.

Read more on Barron's

The Phillips family has said they do not yet know whether the full cost of this flight would be covered by her travel insurance.

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The uphill nature of Lloyd’s battle to stamp out sexism and racism reflects endemic issues in the wider insurance world, according to people close to Lloyd’s.

Read more on The Wall Street Journal

Chancellor Rachel Reeves announced in the Budget that tax will be charged on the insurance included in a Motability lease, and VAT added to the advanced payments put down on higher-value cars.

Read more on BBC

Related Words

• allowance 
• coverage 
• guarantee