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.

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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

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Other Word Forms

Derived Forms

• noninsurance
  noun
• proinsurance
  adjective
• preinsurance
  noun

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

Dunn, who has lived in the area eight years, invited the woman whose house had been damaged into his home so she could call her insurance company.

From BBC • Jun. 9, 2026

The fresh capital comes from Ilmarinen, one of Finland’s largest pension insurance companies.

From Barron's • Jun. 9, 2026

Social Security trustees report on the combined fund of Social Security’s retirement and disability insurance programs:

From The Wall Street Journal • Jun. 9, 2026

Home and car insurers are joining other deep-pocketed institutions from life insurance companies to university endowments in snapping up private investments.

From The Wall Street Journal • Jun. 8, 2026

They thought the traders had sold all this insurance without having any place they could go to buy it back.

From "The Big Short" by Michael Lewis

Related Words

• allowance
• coverage
• guarantee