insurance

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

|Updated on: 19 Jun 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

Wallis plays Rebecca Crosby, a Wall Street Journal reporter whose original plan to write a corporate profile of insurance company CEO Bob Callahan (Jon Hamm) gets thrown off course when his best friend Hoagie (Ed Helms) barges in and tags him.

— refinery29.com, "Tag Changed This One Major Detail For The Movie & Avoided A Horrible Trope," 15 June 2018
My insurance also covers damage to the house done by the pet.

— cathy m. rosenthal, courant.com, "Pet World: Dog Keeps Digging At Same Spot In Carpet," 14 June 2018
The Los Angeles Rams, possibly along with its insurance companies, will be required to pay Bush.

— michael mccann, SI.com, "Reggie Bush’s Trial Win vs. Rams Could Be Precedent for More Athletes Filing Injury Lawsuits," 13 June 2018
This means that women will pay approximately $25 a month if their insurance covers the drug.

— polina marinova, Fortune, "Term Sheet -- Monday, June 11," 11 June 2018
The explanation for some denials is that FEMA encourages all storm victims to apply even though insurance will cover some residents' damages, or because an inspector deemed their home safe, if not comfortable, to live in.

— mike morris, Houston Chronicle, "Houston to get $1B in Harvey housing aid; it's not enough," 10 June 2018
PBMs act as middlemen between insurance company plan administrators and drug companies.

— NBC News, "Medicare spending on name-brand drugs rose by 77 percent over five years, even as usage fell," 5 June 2018
The department encouraged homeowners and business owners to contact their insurance companies to advise them of the new rating for a possible decrease in premiums.

— robert rhoden, NOLA.com, "Mandeville-area fire department attains enviable Class 1 rating," 4 June 2018
Today, the majority of such schemes are carried out in order to defraud insurance companies.

— hope reese, Vox, "The Russian journalist Arkady Babchenko who faked his own death isn’t alone.," 4 June 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

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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

See Words from the same year

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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