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
- protection
- security
- indemnity
- coverage
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
Example
He bought a life insurance policy to provide for his family after his death.
Example
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
Example
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.'
