insurance

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

Updated on: 11 Apr 2018

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

And companies are increasingly using data to charge different consumers different prices—including, as Consumer Reports and ProPublica found last year, higher auto insurance prices to consumers living in minority neighborhoods.

— jessica rich, WIRED, "Beyond Facebook: It’s High Time for Stronger Privacy Laws," 8 Apr. 2018
The right to the insurance payment was awarded to the woman as part of their divorce decree, but the company had balked at making the payment before Nadeen help prove the woman was due the money.

— tim evans, Indianapolis Star, "IndyStar Call for Action tops $1 million with wins in hundreds of small -- and big -- cases," 8 Apr. 2018
On the other side, office visits to primary care doctors declined 18 percent from 2012 to 2016, even as visits to specialists increased, insurance data analyzed by the Health Care Cost Institute shows.

— reed abelson and julie creswell, New York Times, "The Disappearing Doctor: How Mega-Mergers Are Changing the Business of Medical Care," 7 Apr. 2018
One applicant is jeopardizing the building insurance for other tenants of the same property because insurers are reluctant to do business with marijuana producers.

— david garrick, sandiegouniontribune.com, "San Diego's climate action plan puts hitch in marijuana supply chain," 7 Apr. 2018
Woulfe's auto insurance company, GEICO , will pay the settlement amount, documents showed.

— alicia fabbre, Daily Southtown, "Man gets $300,000 settlement in Beecher crash that killed his pregnant wife, 3 sons," 7 Apr. 2018
In the ninth, four straight walks to open the inning — with the final one going to James McCann for an RBI — gave the Tigers a late insurance run.

— anthony fenech, Detroit Free Press, "Cold weather heats Detroit Tigers in 6-1 win vs. White Sox," 7 Apr. 2018
According to the administration's analysis, that proposal would save up to $17.4 million by: Eliminating coverage of spouses who have access to insurance elsewhere or charge employees extra to keep them on their plan ($7.9 million).

— annysa johnson, Milwaukee Journal Sentinel, "MPS braces for bruising budget battle; busing services, health care benefits could be pared," 7 Apr. 2018
Standard Life Aberdeen wants to continue managing the money for Lloyds, its biggest client, and has since agreed to sell its insurance unit.

— Bloomberg.com, "Lloyds Said to Lean Toward Several Managers for $153 Billion," 6 Apr. 2018

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