noun
insurance
in-SHUR-uhns/ɪnˈʃʊrəns/
An arrangement that covers specified losses in return for payment.
His car insurance provides a payout for the damage.
Etymology
The pieces express making someone secure. Through the sense of an assurance or guarantee, insurance came to mean financial security against specified losses in exchange for payment.
In context
that's what you will get from the insurance company so if you're $30,000 vehicle is stolen and you have a $500 deductible you're gonna get $30,000 - 500
More examples
- Our home insurance covers damage from the storm.
- She buys travel insurance before her overseas trip.
- Does your health insurance cover this medication?
Forms
insure verb — To provide financial coverage against specified losses.
insurer noun — A company that provides insurance coverage.
Similar words
- coverage
- Emphasizes which risks or expenses an insurance policy pays for.
- protection
- Broader defense against harm, not necessarily a paid financial arrangement.