insurance Definition

1. An agreement by which one party promises to pay another party money in the event of loss, theft or damage to property, personal injury or death, etc.
2. The contract for such an agreement.

Form: insurance policy
3. The protection offered by such a contract.

Thesaurus: protection, assurance, safeguard, security, indemnity, guarantee, coverageprovision.
4. Money, usually paid regularly, in return for such a contract; an insurance premium.
5. The sum which will be paid in the event of loss, theft or damage to property, personal injury or death, etc.
6. The business of providing such contracts for clients.
7. Anything done, any measure taken, etc to try to prevent possible loss, disappointment, problems, etc.
8. An act or instance of insuring.
9. as adj.

Example: insurance company

See Usage Note at assurance.