insurance

1 of 2

noun

in·​sur·​ance in-ˈshu̇r-ən(t)s 

-ˈshər-,

also

ˈin-ˌshu̇r- 

-ˌshər-

1

a

: coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril

b

: the business of insuring persons or property

c

: the sum for which something is insured

2

: a means of guaranteeing protection or safety

The contract is your insurance against price changes.

Frequent hand washing is good insurance against the common cold.

3

gambling : a side bet that a player in blackjack may place when the dealer's first faceup card is an ace

Note: An insurance bet can be up to half of a player's original bet. It wins at 2 to 1 odds if the dealer's cards add up to 21.

insurance

2 of 2

adjective

: being a score that adds to a team's lead and makes it impossible for the opposing team to tie the game with its next score

an insurance run

Examples of insurance in a Sentence

Noun

insurance against theft or damage

She has a job in insurance.

I work for an insurance company.

Recent Examples on the Web

Noun

The tax credits lowered premiums on insurance through the Affordable Care Act and raised income eligibility thresholds. —Yaakov Katz, Newsweek, 28 Nov. 2024

On insurance, Florida’s official line is that the homeowners’ market is recovering. —Sun Sentinel Editorial Board, Sun Sentinel, 28 Nov. 2024

Adjective

That forced Mr Buffett to confirm that his heir apparent as chief executive is Greg Abel, 58, a trusted lieutenant who runs Berkshire’s non-insurance businesses. —The Economist, 8 May 2021

Buffett said last May that Berkshire Vice Chairman Greg Abel, who currently oversees all of the conglomerate’s non-insurance businesses, is set to take over as CEO. —Dallas News, 24 Feb. 2022

Word History

First Known Use

Noun

1651, in the meaning defined at sense 1b

Adjective

1954, in the meaning defined above

Phrases Containing insurance

• accident insurance
• health insurance
• homeowner's insurance
• insurance adjuster
• insurance agent
• insurance broker
• insurance policy
• life insurance
• property damage insurance
• self-insurance
• social insurance
• take out insurance on
• term insurance
• title insurance
• unemployment insurance
• whole life insurance
• workmen's compensation insurance

Kids Definition

insurance

noun

in·​sur·​ance

in-ˈshu̇r-ən(t)s

1

a

: the business of insuring persons or property

b

: a contract by which someone guarantees for a fee to pay someone else for the value of property if it is lost or damaged (as through theft or fire) or to pay usually a specified amount for injury or death

c

: the amount for which something is insured

2

: a means of guaranteeing protection

take an umbrella as insurance against rain

Legal Definition

insurance

noun

in·​sur·​ance in-ˈshu̇r-əns, ˈin-ˌshu̇r- 

1

: the action, process, or means of insuring or the state of being insured usually against loss or damage by a contingent event (as death, fire, accident, or sickness)

2

a

: the business of insuring persons or property

b

: coverage by contract whereby for an agreed payment one party agrees to indemnify or guarantee another against loss by a specified contingency or peril

c

: the principles and practice of the business of insuring

3

: the sum for which something is insured