/ɪnˈsɜːrəns/ iN-SUR-əns

Definitions

1. noun

a system or arrangement for providing financial protection or compensation against potential loss or harm, typically by paying a periodic fee or premium

“She purchased health insurance to cover her family’s medical expenses.”

2. noun

a guarantee or contract that provides financial protection or compensation

“The insurance policy covered the damages to her car after the accident.”

3. verb

to provide financial protection or compensation against potential loss or harm, typically by paying a periodic fee or premium

“The company will insure the shipment against loss or damage during transit.”