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.
From the M-W Editors
Examples of insurance in a Sentence
insurance against theft or damage
She has a job in insurance.
I work for an insurance company.
1651
First Known Use of insurance
1651
Other Economics Terms
insurance
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
1954
First Known Use of insurance
1954
INSURANCE Defined for English Language Learners
Definition of insurance for English Language Learners
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: 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
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: the amount of money a person regularly pays an insurance company as part of an insurance agreement
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: the amount of money that a person receives from an insurance company
INSURANCE Defined for Kids
insurance
playDefinition 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
playLegal 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
Learn More about insurance
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Spanish Central: Translation of insurance Nglish: Translation of insurance for Spanish speakers Britannica English: Translation of insurance for Arabic speakers Britannica.com: Encyclopedia article about insurance
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