Definition of insurance noun from the Oxford Advanced Learner's Dictionary

      

    insurance

     noun
    noun
    BrE BrE//ɪnˈʃʊərəns//
     
    , BrE//ɪnˈʃɔːrəns//
     
    ; NAmE NAmE//ɪnˈʃʊrəns//
     
     
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  1. 1  [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/sick, or if you lose or damage something life/car/travel/household, etc. insurance to have adequate insurance cover insurance (against something) to take out insurance against fire and theft insurance premiums (= the regular payments made for insurance) Can you claim for the loss on your insurance? see also National Insurance Wordfinderactuary, annuity, cover, excess, insurance, no-claims bonus, policy, premium, risk, underwrite
  2. 2  [uncountable] the business of providing people with insurance an insurance broker/company He works in insurance.
  3. 3[uncountable] money paid by or to an insurance company to pay insurance on your house When her husband died, she received £50 000 in insurance.
  4. 4[uncountable, countable] insurance (against something) something you do to protect yourself against something bad happening in the future At that time people had large families as an insurance against some children dying.
  5. Word Origin late Middle English (originally as ensurance in the sense ‘ensuring, assurance, a guarantee’): from Old French enseurance, from enseurer, alteration of Old French aseurer, earlier form of assurer, based on Latin ad- ‘to’ (expressing change) + securus, from se- ‘without’ + cura ‘care’. Sense (1) dates from the mid 17th cent.Extra examples Do you have fully comprehensive insurance? Does your personal accident insurance cover mountain rescue? He bought a new suit out of the insurance money. Her insurance is with General Accident. I haven’t paid the insurance yet this month. If you make more than two claims in any period of insurance you may lose your no claim bonus. Labour has increased national insurance contributions to pay for public services. Many people are covered by employer-provided health insurance. Millions of Americans lack adequate health insurance. Millions of people in the US are not covered by health insurance. More people are taking out insurance against the high cost of dental care. She set fire to her house and then claimed insurance. The company maintains liability insurance for its directors and officers. The contract requires me to arrange my own insurance. The court heard that he stood to gain millions in insurance on his wife. The insurance will pay for the damage. The travel agent recommended that I take out travel insurance. We claimed for the car repairs on the insurance. a compulsory health insurance system a monthly insurance premium a national insurance scheme a personal insurance policy compulsory insurance for personal injury to employees insurance cover for bodily injury to third parties rising insurance costs universal health insurance People used to have large families as an insurance against some children dying.
See the Oxford Advanced American Dictionary entry: insurance