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- Dictionaryin·sur·ance/inˈSHo͝orəns/
noun
- 1. a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium: "many new borrowers take out insurance against unemployment or sickness" Similar
- 2. a thing providing protection against a possible eventuality: "adherence to high personal standards of conduct is excellent insurance against personal problems" Similar
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Feb 28, 2024 · Insurance is a contract (policy) in which an insurer indemnifies another against losses from specific contingencies or perils. There are many types of insurance policies....
The meaning of INSURANCE is coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. How to use insurance in a sentence.
Mar 31, 2023 · Definition. Insurance is an agreement between an individual policy (or a business) and an insurance company. Under this agreement, the policyholder pays premiums to the insurer in exchange for financial compensation in the event of a covered incident.
an agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc.: car / travel insurance. take out insurance I'll need to take out extra car insurance for another driver. The insurance doesn't cover you for (= include) household items.
Jun 29, 2022 · Insurance is a product that helps protect you from financial loss in the event of a loss, accident, injury, or death. When you sign up for insurance, you're entering a contract between you and the insurance company. There are many different insurance types, each covering unique risks.
Insurance definition: the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved..
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to protect against the risk of a contingent or uncertain loss.
Jun 18, 2024 · insurance, a system under which the insurer, for a consideration usually agreed upon in advance, promises to reimburse the insured or to render services to the insured in the event that certain accidental occurrences result in losses during a given period. It thus is a method of coping with risk.
an agreement in which you pay a company money, either in one payment or in regular payments, and they pay your costs, for example, if you lose or damage something, or have an accident, injury, etc.: car / holiday / home / health, etc. insurance. an insurance plan / policy. to buy / sell insurance.
insurance. noun. /ɪnˈʃʊərəns/, /ɪnˈʃɔːrəns/. /ɪnˈʃʊrəns/. [uncountable, countable] an arrangement with a company in which you pay them regular amounts of money and they agree to pay the costs, for example, if you die or are ill, or if you lose or damage something. health/medical insurance.
