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. 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

• noninsurance noun
• preinsurance noun
• proinsurance adjective

Etymology

Origin of insurance

First recorded in 1545–55; insure + -ance

Example Sentences

Concerns about the economy, job insecurity and high insurance premiums are causing some home buyers to have second thoughts about their home purchases, and some are even walking away from hefty deposits.

From The Wall Street Journal

The company expects to claim 80%-90% of this loss through insurance.

From The Wall Street Journal

She would be responsible for taxes and insurance, which should be manageable.

From MarketWatch

It isn’t clear yet whether travel insurance or airlines will cover the extra costs.

From The Wall Street Journal

For now, insurance will continue to cover vaccines still recommended at the end of 2025.

From BBC

Related Words

• allowance
• coverage
• guarantee