insurance
in-sur-ance · noun
Definitions
noun
- 1.
A contractual arrangement in which a company provides financial protection or reimbursement against losses in exchange for regular premium payments.
- 2.
The business of providing such protection.
- 3.
Something that provides protection or a safeguard against risk.
- 4.
The amount for which something is insured.
Forms
plural: insurances
Phrases & expressions
- •life insurance — insurance that pays out upon death
- •health insurance — coverage for medical expenses
- •car insurance — coverage for vehicle-related losses
- •insurance policy — the contract outlining insurance terms
- •insurance premium — regular payment for insurance coverage
- •insurance claim — a request for payment from an insurer
Related words
Etymology
From Old French enseurance ("assurance, promise"), from ensurer ("to assure, give surety"). Related to "ensure" and "assure." The modern meaning developed in the 17th century with the rise of insurance companies.