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insurance - Meaning and Examples

Meaning of 'insurance' (Webster Dictionary)

1 . Insurance [ n.]
- 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.
- The premium paid for insuring property or life.
- The sum for which life or property is insured.
- A guaranty, security, or pledge; assurance.

Meaning of 'insurance' (Princeton's WordNet)

1 . insurance [ n]
Meaning (1):
- written contract or certificate of insurance
Example in sentence:
  • you should have read the small print on your policy

Nearby Words:

insabbatati insafety insalivation insalubrious insalubrity insalutary insanability insanable insanableness insanably

See 'insurance' also in:

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Related Definitions

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    A Blanket Insurance plan is a unique homeowner's insurance that protects several kinds of assets at the same site, much of the same properties at various places, or several assets held at different locations.
  • Broad Form Insurance
    Broad Form Insurance is a type of insurance that goes further than the essentials to encompass unusual situations that could pose a significant danger to the policyholder.
  • Self-insurance
    A method by which companies assume risk by putting aside cash reserves to cover their potential future losses.
  • Property insurance
    Protection for losses due to physical damage to or destruction of property or for property loss due to theft; includes two options;
  • Product liability insurance
    Coverage for losses for injuries caused by the use of a company’s products.
  • Malpractice insurance
    Malpractice insurance coverage that protects professionals (doctors, lawyers, etc.) from losses due to injury caused by the improper
  • Variable life insurance
    Variable life insurance is life insurance policy in which the death benefit and cash surrender values vary according to the investment
  • Variable universal life insurance
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  • Treaty reinsurance
    Treaty reinsurance is a type of reinsurance in which the primary company must cede insurance to the reinsurer and the reinsurer must
  • Single-premium whole life insurance
    Single-premium whole life insurance is a whole life policy that provides lifetime protection with a single premium payment. Single-premium whole life insurance is a whole life policy that provides lifetime protection with a single premium payment.

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