WEBFeb 28, 2024 · Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company.
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INSURANCE | definition in the Cambridge English Dictionary
WEBan agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc.: car / travel insurance. take out insurance I'll need to take out extra …
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INSURANCE | English meaning - Cambridge Dictionary
WEBan agreement in which you pay a company money and they pay your costs if you have an accident, injury, etc.: car / travel insurance. take out insurance I'll need to take out …
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What is Insurance? Definition, How it Works, & Examples | Money
WEBMar 31, 2023 · Definition. Insurance is an agreement between an individual policy (or a business) and an insurance company. Under this agreement, the policyholder pays premiums to the insurer in exchange for financial compensation in the event of a covered incident. For example, auto insurance will reimburse an insured driver for the cost of …
WEBInsurance definition: the act, system, or business of insuring property, life, one's person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a payment proportionate to the risk involved. See examples of INSURANCE used in a sentence.
WEBinsurance. noun. in· sur· ance. in-ˈshu̇r-ən (t)s. 1. a. : the business of insuring persons or property. b. : a contract by which someone guarantees for a fee to pay someone else for the value of property if it is lost or damaged (as through theft or fire) or to pay usually a specified amount for injury or death.
WEBFeb 15, 2024 · Insurance can be defined broadly as an agreement or contract between an individual or a business and an insurance company. The policyholder pays a premium in exchange for the insurer agreeing to ...
WEBInsurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury
WEBMar 31, 2024 · insurance, a system under which the insurer, for a consideration usually agreed upon in advance, promises to reimburse the insured or to render services to the insured in the event that certain accidental occurrences result in losses during a given period. It thus is a method of coping with risk.
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insurance noun - Definition, pictures, pronunciation and usage …
WEBinsurance. [uncountable, countable] an arrangement with a company in which you pay them regular amounts of money and they agree to pay the costs, for example, if you die or are ill, or if you lose or damage something. Private insurance accounts for about 35 per cent of healthcare in the US.