insurance
- 1An arrangement you pay for, or the coverage it provides, under which a company pays compensation if a covered loss, injury or death happens.
After the flood, families without insurance struggled to rebuild.
The gallery pays for insurance on every painting it ships overseas.
UsageYou have or buy insurance; for one contract say an insurance policy. Insurance on a car, against theft.
Note
Behind it is an exchange. The policyholder pays a premium, and the insurer promises to pay out if a covered loss occurs.
- 2The business of providing insurance; the industry that sells and manages coverage against loss.
He left banking for a career in insurance.
Insurance is heavily regulated at the state level in the United States.
UsageUsually no article: she works in insurance, a career in insurance.
- 3A precaution taken or kept to guard against a possible future problem or the harm it could cause.
The director shot a second ending as insurance in case test audiences hated the first.
Carrying a paper map is cheap insurance when hiking beyond cell coverage.
UsageUsually after as or for: take an umbrella as insurance. Also insurance against a problem.
Similarprecaution, safeguard, protection, hedge, backup
Note
A figurative stretch of the indemnity sense: nothing is paid out, and the precaution itself is the protection.
Less common meaning
- 4A bet made after the deal that pays off if the dealer turns out to have blackjack.
Half the table bought insurance when the dealer's ace appeared.
He took insurance, and the dealer's hidden ten made the bet pay off.
UsagePlayers take or buy insurance, with no article.
Note
A side wager at the blackjack table, offered when the dealer's upcard is an ace. It pays two to one if the hidden card completes a blackjack. Under basic strategy the bet has a negative expected value for the player, which is why a card counter takes it only when the count is favorable.
Practice
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Origin
This word comes from the older form "ensurance"; compare also "assurance."
Checked 5 Nov 2026 · 1 fact
- Insurance comes from the older form ensurance, with assurance offered for comparison. en.wiktionary.org