Insurance Definition, Examples & Key Usage

Meaning 1：Financial protection (insurance)

insurance 🔊

/ɪnˈʃʊrəns/

A way to protect yourself from financial loss by paying a company regularly, so they will pay you if something bad happens.

Insurance policy document held by relieved person at home desk

Financial protection 🔊

➕

/faɪˈnænʃəl prəˈtekʃən/

A contract where an individual pays regular premiums to a company, which then compensates for specified financial losses.

📁 Category：Social Economy 🔖 Level：Intermediate

📘 Details & Usage

📖 Root Explanation

in- (make) + securus (safe) + -ance (noun suffix)

💡 Mnemonic

Think 'in-sure-ance' — you pay to be 'in' a state of 'sure'ness against loss.

📖 Example

When I bought my new car, I immediately got insurance to cover any accidents or theft. 🔊 When I bought my new car, I immediately got insurance to cover any accidents or theft.

🔗 Collocations

insurance policy – The contract document

insurance premium – The regular payment

insurance claim – A request for compensation

🔄 Synonyms

assurance (n.) – A formal guarantee against loss

coverage (n.) – The extent of protection provided

protection (n.) – The act of keeping safe

🌱 Derivatives

insure (v.) – To provide insurance

insured (adj./n.) – Covered by insurance

insurer (n.) – A company that provides insurance

📖 Cultural Story

From Latin 'securitas' (security) via Old French 'assurance'; used since 16th century for maritime risk contracts.