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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"
- 2. a thing providing protection against a possible eventuality: "adherence to high personal standards of conduct is excellent insurance against personal problems"
Feb 28, 2024 · What Is Insurance? Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company.
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.
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.
Mar 31, 2023 · 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.
Feb 15, 2024 · Everyone carries some form of insurance, but what exactly is insurance? Learn about basic insurance terms, common types of policies, and how it works at a high level.
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.
Jul 22, 2024 · What Is Insurance? Simply put, the definition of insurance is a contract between an individual (known as the “policyholder”) and an insurance company.
Aug 6, 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.
Aug 12, 2015 · INSURANCE definition: 1. an agreement in which you pay a company money and they pay your costs if you have an accident…. Learn more.
insurance. [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. Private insurance accounts for about 35 per cent of healthcare in the US.
