1
: 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
life insurance
insurance against theft or damage
health/medical insurance
auto insurance
He was very glad that he had taken out insurance on the boat. [=that he had insured the boat]
2
a
: the amount of money a person regularly pays an insurance company as part of an insurance agreement
What's the monthly insurance on your car? [=how much money do you pay each month for insurance for your car?]
b
: the amount of money that a person receives from an insurance company
After the fire, we used the insurance (money) to buy a new house.
3
: the business of providing insurance
She has a job in insurance.
I work for an insurance company.
4
: protection from bad things that may happen in the future
—usually + against
Education provides insurance against instability in the job market.
The contract provides insurance against future price changes.
Cite this Entry
“Insurance.” Merriam-Webster.com Simple Definition, Merriam-Webster, https://www.merriam-webster.com/simple/insurance. Accessed 15 Apr. 2026.
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