Definition of insurance
(Entry 1 of 2)
1a
: 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
adjectiveDefinition of insurance (Entry 2 of 2)
: 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
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Merriam-Webster unabridged
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Time Traveler for insurance
The first known use of insurance was in 1651
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