insurance

noun in·sur·ance \ in-ˈshu̇r-ən(t)s , -ˈshər- also ˈin-ˌshu̇r- , -ˌshər- \

Definition of insurance

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 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.

See insurance defined for English-language learners

See insurance defined for kids

Examples of insurance in a Sentence

insurance against theft or damage
She has a job in insurance.
I work for an insurance company.

Recent Examples of insurance from the Web

The view contrasts with a Goldman Sachs Group Inc. survey of more than 300 insurance executives this year, which found the respondents expected private equity to have the highest returns.

— sonali basak, Bloomberg.com, "BlackRock Finds $5 Trillion Industry Is Now Riskier Than in '08," 29 Aug. 2017
Pakistan-China cooperation provides Pakistan valuable, though not guaranteed, insurance against U.S. sanctions.

— paul staniland, Washington Post, "Will U.S. threats to Pakistan help crack down on terrorism? Not really.," 29 Aug. 2017
House Bill 1774, which goes into effect Sept. 1, advocates for insurance companies to limit lawsuit abuses, Chron reports.

— veronica hilbring, Essence.com, "Hurricane Harvey: Here's Why Texans Might Need To File Insurance Claims ASAP," 28 Aug. 2017
Take The Most Important Stuff First All hard copies of important financial, health, school, insurance, and family information must be packed and ready to go.

— Popular Mechanics, "How to Evacuate Before a Storm or Flood," 25 Aug. 2017
Certain types of insurance will help pay for medical care, evacuation, or unexpected flights.

— caroline hallemann, Town & Country, "What You Should Do If There's a Terrorist Attack When You're Traveling," 17 Aug. 2017
Drivers must have their own car, provide proof of insurance and pass a background check.

— Daily Southtown, "Community news," 16 Aug. 2017
These companies form syndicates and get insurance of their own from even larger re-insurers, who are re-re-insured in turn.

— michelle weber, Longreads, "Avast, Ye Mateys: There’s Insurance Fraud Ahead," 1 Aug. 2017
Charisma and humor Mike Parker, one of Jones’ former Arkansas teammates, coached at Texas from 1977-1985 before retiring, and also sold insurance for Pat Jones while in college.

— clarence e. hill jr., star-telegram, "How Jerry Jones got his gift of gab at age 9 at his family’s store," 31 July 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'insurance.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of insurance

1651

Other Economics Terms

actuary, compound interest, globalization, indemnity, portfolio, rentier, stagflation, usurer

insurance

adjective

Definition of insurance

: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

First Known Use of insurance

1954

INSURANCE Defined for English Language Learners

insurance

noun

Definition of insurance for English Language Learners

: an agreement in which a person makes regular payments to a company and the company promises to pay money if the person is injured or dies, or to pay money equal to the value of something (such as a house or car) if it is damaged, lost, or stolen
: the amount of money a person regularly pays an insurance company as part of an insurance agreement
: the amount of money that a person receives from an insurance company

INSURANCE Defined for Kids

insurance

noun in·sur·ance \ in-ˈshu̇r-əns \

Definition of insurance for Students

1 :an agreement by which a person pays a company and the company promises to pay money if the person becomes injured or dies or to pay for the value of property lost or damaged

2 :the amount for which something is insured

3 :the business of insuring persons or property

Law Dictionary

insurance

noun in·sur·ance \ in-ˈshu̇r-əns, ˈin-ˌshu̇r- \

legal Definition of insurance

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