insurance Definition

  • 1a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium
  • 2the amount paid for this

Using insurance: Examples

Take a moment to familiarize yourself with how "insurance" can be used in various situations through the following examples!

  • Example

    I have car insurance that covers accidents and theft.

  • Example

    The insurance company will pay for the damages caused by the flood.

  • Example

    She has health insurance through her employer.

insurance Synonyms and Antonyms

Synonyms for insurance

Antonyms for insurance

Phrases with insurance

  • a contract between an insurer and a policyholder in which the insurer guarantees payment of a death benefit to named beneficiaries upon the death of the insured


    He bought a life insurance policy to provide for his family after his death.

  • a type of property insurance that covers private residences


    The home insurance policy covered the damage caused by the fire.

  • a type of insurance that covers medical expenses, trip cancellation, lost luggage, flight accidents, and other losses incurred while traveling


    She always buys travel insurance before going on a trip.

Origins of insurance

from Old French 'ensurer', meaning 'to assure'


Summary: insurance in Brief

Insurance [ɪnˈʃʊərəns] is a practice where a company or government agency provides compensation for loss, damage, illness, or death in exchange for payment of a premium. It includes types such as car, health, and life insurance, with phrases like 'travel insurance' and 'home insurance.' Insurance is a form of protection and security, with synonyms like 'coverage' and 'indemnity.'

How do native speakers use this expression?