insurance
Meaning
Insurance is a financial arrangement that provides protection against potential future losses or damages in exchange for regular payments known as premiums.
💡 A common mistake is to confuse "insurance" with "assurance," where the latter typically refers to a guarantee of a specific outcome.
Example Sentences
Word in Context
After
a
small
storm
,
Maria
checks
her
belongings
and
calls
the
insurance
company
to
report
the
minor
damage
.
She
has
been
living
in
the
same
apartment
for
three
years
and
already
knows
which
documents
she
should
send
.
The
agent
explains
the
claim
process
clearly
,
giving
deadlines
and
simple
steps
,
so
she
feels
relieved
.
Next
week
she
plans
to
gather
photos
and
receipts
to
support
her
claim
.
She
expects
to
pay
a
slightly
higher
premium
next
year
,
but
thinks
that
continued
coverage
is
a
sensible
way
to
protect
her
things
.
Common Phrases
health insurance
car insurance
life insurance
Synonyms
Related Words
Never forget "insurance"
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