# insurance

/ˌɪnˈʃʊɹəns/ (US) · /ɪnʃˈɔːɹəns/ (UK)

Source: https://englishreference.com/word/insurance
Updated: 2026-06-19

## Senses

### 1. financial protection

noun · CEFR B1

an agreement where you pay a company money and they pay your costs if something bad happens, like a car crash or a fire.

For teachers: a contract or system providing financial protection or reimbursement against specified types of loss or damage.

- You need to have valid car insurance before you are allowed to drive on the road.
- The homeowner discovered that his standard insurance did not cover damage caused by rising floodwaters, leaving him with significant repair costs.

Usage: Often used as an uncountable noun, but can be countable when referring to specific types (e.g., 'different insurances').

### 2. the industry

noun · CEFR B2

the business of providing financial protection to people and companies.

For teachers: the commercial sector or industry involved in the provision of insurance policies.

- After finishing university, she found a well-paying job in insurance.
- The insurance industry has faced unprecedented challenges due to the increasing frequency of climate-related natural disasters.

### 3. a safety measure

noun · CEFR B2

something you do to protect yourself against a possible problem in the future.

For teachers: a precautionary measure taken to guard against a potential negative outcome.

- I took a spare battery with me as insurance in case my phone died.
- The team signed a veteran goalkeeper as insurance against their primary starter suffering another mid-season injury.

### 4. a policy document

noun · CEFR B2

the actual document or contract that shows you are protected.

For teachers: a specific insurance policy or contract document.

- Please keep your insurance in a safe place where you can find it easily.
- The legal department requested a copy of the insurance to verify the liability limits before signing the partnership agreement.

## Examples

- You need car insurance before you can drive on the road.
- The homeowner filed a claim with his insurance company after the storm damaged the roof.
- While basic coverage is mandatory, many families opt for comprehensive insurance to mitigate the financial risks associated with unforeseen medical emergencies or structural property damage.

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From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.