What does insurance mean?

Definitions for insurance
ɪnˈʃʊər əns, -ˈʃɜr-in·sur·ance

This dictionary definitions page includes all the possible meanings, example usage and translations of the word insurance.

Princeton's WordNet

  1. insurancenoun

    promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company

  2. policy, insurance policy, insurancenoun

    written contract or certificate of insurance

    "you should have read the small print on your policy"

  3. indemnity, insurancenoun

    protection against future loss

GCIDE

  1. Insurancenoun

    Hence: Any means of assuring against loss; a precaution; as, we always use our seat belts as insurance against injury.

Wiktionary

  1. insurancenoun

    A means of indemnity against a future occurrence of an uncertain event.

    The car was totalled, but fortunately I had insurance.

  2. insurancenoun

    The business of providing insurance.

    After five years in banking, I switched to insurance.

  3. insurancenoun

    Metaphoric: Any attempt to anticipate an unfavorable event.

    The sky was clear, but I took my umbrella for insurance.

  4. insurancenoun

    Blackjack: A bet made after the deal, which pays off if the dealer has blackjack.

    I only take insurance if the count is right.

  5. insurancenoun

    An insurance policy

  6. Etymology: From old form ensurance, see also assurance.

Wikipedia

  1. Insurance

    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 hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ownership, possession, or pre-existing relationship. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured, or their designated beneficiary or assignee. The amount of money charged by the insurer to the policyholder for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. A mandatory out-of-pocket expense required by an insurance policy before an insurer will pay a claim is called a deductible (or if required by a health insurance policy, a copayment). The insurer may hedge its own risk by taking out reinsurance, whereby another insurance company agrees to carry some of the risks, especially if the primary insurer deems the risk too large for it to carry.

ChatGPT

  1. insurance

    Insurance is a contract, referred to as a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company. The company pools clients' risks to make payments more affordable for the insured. These risks can cover a wide range of situations such as property damage, health issues, accidents, legal liabilities, or even death. The insured party pays a premium in exchange for the promise of payment in case of a covered loss.

Webster Dictionary

  1. Insurancenoun

    the act of insuring, or assuring, against loss or damage by a contingent event; a contract whereby, for a stipulated consideration, called premium, one party undertakes to indemnify or guarantee another against loss by certain specified risks. Cf. Assurance, n., 6

  2. Insurancenoun

    the premium paid for insuring property or life

  3. Insurancenoun

    the sum for which life or property is insured

  4. Insurancenoun

    a guaranty, security, or pledge; assurance

  5. Etymology: [From Insure.]

Freebase

  1. Insurance

    Insurance is the equitable transfer of the risk of a loss, from one entity to another in exchange for payment. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An insurer, or insurance carrier, is a company selling the insurance; the insured, or policyholder, is the person or entity buying the insurance policy. The amount of money to be charged for a certain amount of insurance coverage is called the premium. Risk management, the practice of appraising and controlling risk, has evolved as a discrete field of study and practice. The transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the case of a financial loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated.

U.S. National Library of Medicine

  1. Insurance

    Coverage by contract whereby one part indemnifies or guarantees another against loss by a specified contingency.

Dictionary of Nautical Terms

  1. insurance

    See MARINE INSURANCE.

Matched Categories

British National Corpus

  1. Spoken Corpus Frequency

    Rank popularity for the word 'insurance' in Spoken Corpus Frequency: #1557

  2. Written Corpus Frequency

    Rank popularity for the word 'insurance' in Written Corpus Frequency: #1132

  3. Nouns Frequency

    Rank popularity for the word 'insurance' in Nouns Frequency: #660

How to pronounce insurance?

How to say insurance in sign language?

Numerology

  1. Chaldean Numerology

    The numerical value of insurance in Chaldean Numerology is: 4

  2. Pythagorean Numerology

    The numerical value of insurance in Pythagorean Numerology is: 5

Examples of insurance in a Sentence

  1. Parker Conrad:

    We never had enough money—or we were always too cheap—to hire any kind of administrative staff, so [my co-founder] and I were always the ones dealing with sending out offer letters, setting people up on payroll or signing them up for health insurance. It was a couple of hours per month that I deeply resented, i would stop off at Kinko’s on my way home to fax in their insurance applications, because that was the only way to get things in to the insurance company. I remember every time thinking, ‘This is ridiculous. I can’t believe they don’t have systems for this.’.

  2. Evgeni Kostitsyn:

    Free financial advice: buy life insurance for Saakashvili from US and UK insurance companies.

  3. Steve Bowen:

    The event is ongoing, but given under-insurance or a lack of any ... flood insurance across some of the hardest-hit areas in Missouri and Illinois, much of the flood loss is not expected to be covered by insurance.

  4. Donna Shalala:

    The other thing I want to point out, is there are a lot of people in this country that have very good health insurance from their employer. There are a lot of unions. They have negotiated that health insurance that have given up salaries for that health insurance, so, don't read this as left and right. Read it as the complexity to get to the goal we want, which is universal health care.

  5. Woody Allen:

    There are worse things in life than death. Have you ever spent an evening with an insurance salesman

Popularity rank by frequency of use

insurance#1#383#10000

Translations for insurance

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"insurance." Definitions.net. STANDS4 LLC, 2023. Web. 8 Dec. 2023. <https://www.definitions.net/definition/insurance>.

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