insurance

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

Definition of insurance

1a : the business of insuring persons or propertyb : coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or perilc : 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 ◆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

Also, states could get waivers so that insurance companies could offer less comprehensive policies.

— stephen ohlemacher, The Seattle Times, "House GOP defiant on health bill amid Senate uncertainty," 20 July 2017
Opposition to the Cruz amendment from powerful health care sectors, like the insurance industry, is cited as one reason why the Senate was unable to muster enough votes to move the whole Senate bill forward for debate this week.

— julie rovner, Kaiser Health News, "Cruz Plan Gets Thumbs Up From HHS But Thumbs Down From Most Everyone Else," 19 July 2017
And there is reason to believe that even a repeal with a years-long delay could be extremely disruptive to consumers and health insurance markets.

— clare foran, The Atlantic, "Obamacare Repeal-Only Effort Draws Republican Opposition," 18 July 2017
Unfortunately, this is compounded by South Florida’s reputation as a hot bed for insurance fraud.

— by gina clausen lozier, miamiherald, "After the storm: Small businesses should anticipate insurers’ document requests," 16 July 2017
The teen pregnancy rate in the U.S. is currently lower than ever, but between this and the Obamacare replacement bill's potential to defund Planned Parenthood and leave people without insurance, this trend could be in danger of reversing.

— suzannah weiss, Teen Vogue, "Trump Cuts Over $200 Million from Teen Pregnancy Prevention Programs," 16 July 2017
Some club members lives in the subdivision, while others, like Naperville Flying Club insurance officer Bill Seith, live elsewhere, in his case Hinsdale.

— bill bird, Naperville Sun, "At 60, Naperville's 'airpark' subdivision still flying," 15 July 2017
Bismarck’s insurance scheme wasn’t an entirely original idea.

— lorraine boissoneault, Smithsonian, "Bismarck Tried to End Socialism’s Grip—By Offering Government Healthcare," 15 July 2017
But health insurers have said the plan backed by Cruz would destabilize the insurance market and undermine protections for sick people.

— laura litvan, Bloomberg.com, "Republicans Have No Margin for Defections in Senate Health Bill," 13 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 in·sur·ance

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

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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

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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

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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)
2a : 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