Definition of insurance in US English:

insurance

noun

  • 1A 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’
    • ‘Group health insurance in large companies protects the individual with costly conditions by including him with the less costly.’
    • ‘I had a phone call from the bank yesterday from someone trying to sell me Card Protection insurance.’
    • ‘There are three policies available on the market - term life cover, mortgage protection and whole-of-life insurance.’
    • ‘Disability insurance is designed to protect one of your most valuable assets - your ability to earn income.’
    • ‘When that happens, private insurance is no longer possible.’
    • ‘At least we have crop insurance which is good protection against decisions that turn out bad.’
    • ‘The company has indicated that the proposals governing health insurance will protect them against rising costs.’
    • ‘If they fall within the legal definition of insurance, protection may be offered to consumers in two ways.’
    • ‘The military can't buy insurance to protect itself if security fails.’
    • ‘However, the risk protection afforded by insurance also increases the producer's certainty equivalent.’
    • ‘Could relying entirely upon the parent's insurance possibly increase the costs for camper health care?’
    • ‘The very best protection is adequate hull insurance.’
    • ‘Anything less and the worker would not be protected by insurance.’
    • ‘If your parents need long term care now, it might not be possible to get insurance.’
    • ‘A large proportion of the money they borrowed was to cover interest and the cost of loan insurance, which would protect the loan if the couple lost their jobs.’
    • ‘Accidents do happen and car companies have insurance to cover such eventualities, except when they happen on a race circuit.’
    • ‘The need for adequate protection through insurance is also on the rise.’
    • ‘We all need insurance to protect ourselves and our families, homes and property.’
    • ‘This is most likely down to the various rumours that those caught exceeding the speed limit or driving without insurance might possibly avoid prosecution.’
    • ‘Identity theft is becoming so widespread in the UK that many companies now offer insurance to protect against falling victim to this increasingly common type of fraud.’
    assurance, indemnity, indemnification, protection, financial protection, security, surety, cover
    View synonyms
    1. 1.1 The business of providing insurance.
      ‘Howard is in insurance’
      • ‘He grew up in a modest home in Pittsburgh, where his father, Louis Jr., first worked in the family locksmith business and later in insurance.’
      • ‘Mr Quinn, whose businesses include insurance and investment, is no stranger to big deals.’
      • ‘For every business, insurance included, economic woes of the last few years have impacted bottom lines.’
      • ‘I've worked in a lot of businesses - insurance, clothing, construction materials, automobiles, telecom.’
    2. 1.2 Money paid for insurance.
      ‘my insurance has gone up’
      • ‘Take a look at your expenses over the last year to get an idea of annual expenses, such as taxes, insurance and subscription services.’
      • ‘As a result, we have agreed that the farm will pay the land taxes and all insurance and other local fees, but only pay a small administrative fee to the land trust.’
      • ‘But if you have recently incorporated your business and are drawing money by way of dividends rather than salary to save national insurance, you may need to revisit your pension planning.’
      • ‘We asked experts at Sotheby's for advice on what to do with them, because they were costing a lot of money in insurance and cleaning bills.’
      • ‘The survey showed that living out of town will save you money on your car insurance.’
      • ‘If you spend less than this amount, the money must be used on accessories, insurance or fuel for the vehicle.’
      • ‘Lawyers fees, taxes and insurance must all be paid.’
      • ‘He said increased overheads such as insurance, rents and service charges have resulted in some shops becoming unviable.’
      • ‘The Tories will hit back by demanding to know if Labour will give a commitment not to increase national insurance and income tax.’
      • ‘This money goes towards insurance as well as the general maintenance of the centre.’
      • ‘And somebody who I trusted to pay the insurance on that car - well, he wasn't paying, let's put it that way.’
      • ‘Their activities cost businesses money and push up insurance for everyone.’
      • ‘The car price is taken care of, but there is no money to pay insurance and taxes.’
      • ‘And now the insurance - not only that, but now the co-payment goes up.’
      • ‘You pay income tax, national insurance and bills.’
    3. 1.3 Money paid out as compensation under an insurance policy.
      ‘when will I be able to collect the insurance?’
      • ‘The murders took place to collect insurance on slaves who were sick and dying and therefore would not, on reaching land, become marketable commodities.’
      • ‘The horse killer Stanley schemes to kill Sweet William and his companion Bobby to collect the insurance.’
      • ‘Why not just burn the kitchen down when I light the stove so I can collect insurance and spend it all on college tuition?’
      • ‘You may get some money through insurance or legacy.’
      • ‘I told my husband that if I get money for insurance I would just rather come back and stay in the UK.’
      • ‘He stands accused of setting fire to the store to collect insurance on the building and its contents.’
      • ‘However, no rice grower has reported an accident - something they always do to collect the insurance on their crop dusters.’
  • 2A thing providing protection against a possible eventuality.

    ‘adherence to high personal standards of conduct is excellent insurance against personal problems’
    ‘young people are not an insurance against loneliness in old age’
    • ‘The additional altitude would give us a bit of insurance against a possible explosive mid-air meeting with one of our friends.’
    • ‘It was designed not as a gambling arena, it was designed as insurance against the possibility you will not have enough savings.’
    • ‘My husband's just had a phone call from the bank trying to sell him Card Protection insurance.’
    protection, defence, safeguard, safety measure, shelter, security, precaution, provision, preventive measure, immunity
    View synonyms

Origin

Late Middle English (originally as ensurance in the sense ‘ensuring, assurance, a guarantee’): from Old French enseurance, from enseurer (see ensure). insurance (sense 1) dates from the mid 17th century.

Pronunciation

insurance

/ɪnˈʃʊrəns//inˈSHo͝orəns/