insurance

American  

[in-shoor-uhns, -shur-] / ɪnˈʃʊər əns, -ˈʃɜr- /

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.

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 British  

/ 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

Etymology

Origin of insurance

First recorded in 1545–55; insure + -ance

Explanation

Insurance is a contract where you pay a little money at a time so you can be compensated later, especially in the case of a disaster. Many people consider insurance to be making a kind of bet that bad things will happen: that's a good bet to make, because nobody is lucky forever. Legally, you need car insurance to drive. Without medical insurance, a serious illness could leave you broke. Life insurance is important so your family gets support when you die. House or apartment insurance will help if you have a fire. Insurance agents sell insurance policies, and they always have lots of customers.

Example Sentences

When Michael Borg, town manager of North Attleborough, Mass., saw that its insurance costs had triggered a $1.8 million deficit, he assumed the town’s employees must be getting sicker.

From The Wall Street Journal • May 23, 2026

Bianco and Hilton spoke about their plans to improve public safety, small businesses, homeowner’s insurance and water management, a crucial issue for the conservative-leaning owners of vast swaths of California’s agricultural heartland.

From Los Angeles Times • May 23, 2026

Altogether, the treatments cost more than a month’s worth of rent, even with insurance applied when possible.

From Slate • May 23, 2026

His advice for those who choose to take part: "Get insurance".

From BBC • May 22, 2026

As insurance against such accidents, the Soviet clerks then wrapped their messages in an additional layer of secrecy, using what were known as "one-time pads."

From "Spies: The Secret Showdown Between America and Russia" by Marc Favreau

Related Words

• allowance
• coverage
• guarantee