insurance

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

Updated on: 25 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

Some insurance policies cover certain types of crisis management as well as financial exposure.

— james s. cassel, miamiherald, "In today’s uncertain times, planning for the unexpected is critical | Miami Herald," 22 Apr. 2018
Offensive linemen are essentially insurance policies.

— andy benoit, SI.com, "Draft Needs: Finding the Right Fits for New Defensive Coordinators," 18 Apr. 2018
Lightweight and compact enough to stuff in a backpack, the right windbreaker will be your insurance policy against any sudden inclemency.

— yang-yi goh, GQ, "The Best Windbreakers Will Help You Survive Spring Weather in Style," 18 Apr. 2018
The county began taking a closer look at its insurance policies about a year and a half ago, county attorney Scott McClure said.

— amy lavalley, Post-Tribune, "Porter County insurance savings reach $280K," 17 Apr. 2018
Other contracts, such as mortgages and insurance policies, may have terms that restrict or prohibit renting.

— guest columnist/cleveland.com, cleveland.com, "Law You Can Use -- Airbnb and Other Rental Properties: Bryan Hunt," 15 Apr. 2018
Clarity Money’s app is expected to serve as the smartphone storefront for Goldman’s growing suite of retail products, which the Journal has reported could include wealth-management tools, home mortgages, point-of-sale loans and insurance policies.

— peter rudegeair, WSJ, "Goldman Sachs Comes to the App Store," 15 Apr. 2018
It can also be added on to many auto insurance policies.

— liz weston, USA TODAY, "7 gifts that help your college graduate stash more cash," 14 Apr. 2018
Documents that prove Arizona residency can include utility bills, credit-card or bank statements or insurance policies.

— robert gundran, azcentral, "Arizona residents will be grounded without new travel ID," 12 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

in the meaning defined at sense 1a

See Words from the same year

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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

in the meaning defined above

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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