Main Entry:

¹in·sur·ance

Pronunciation:

\in-ˈshu̇r-ən(t)s also ˈin-ˌ\

Function:

noun

Date:

1651

1 a: the business of insuring persons or property b: coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril c: the sum for which something is insured2: a means of guaranteeing protection or safety <the contract is your insurance against price changes>