What is this word insurance?
1 : an agreement by which a person pays a company and the company promises to pay money if the person becomes injured or dies or to pay for the value of property lost or damaged. 2 : the amount for which something is insured. 3 : the business of insuring persons or property.
What is insurance in easy English?
insurances. (countable) Insurance is an agreement where someone pays a small amount of money, and if something bad happens, they get money to help them.
What is insurance and its example?
Simply speaking, insurance is protection against the risk of loss, primarily financial loss. Insurance can be purchased to cover nearly any aspect of life, including your home, your automobile, your health, your income… the list is endless. This is best portrayed in a simple example of how automobile insurance works.
What is an example of insurance?
The definition of insurance is protection against something going wrong. When you pay premiums in exchange for a policy that pays out when you crash your car in a car accident, this is an example of an auto insurance policy. Biking helmets that provide insurance against a head injury.
What is insurance one sentence?
Insurance is a means of protection from financial loss. Insurance is a contract between the insurer and the insured, whereby the insurer agrees to compensate the insured against loss. The insured has to pay a certain fixed sum of money on a timely basis to the insurer.
What is insurance in a business?
Business insurance protects businesses against losses suffered in the course of their normal activities, particularly when the business faces a compensation claim. Covers include professional indemnity insurance, public liability insurance, and employers’ liability insurance.
How do you explain insurance?
Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, an insurance company, an insurance carrier or an underwriter.
What does the word insurance mean in English?
Learn the words you need to communicate with confidence. an agreement in which you pay a company money, either in one payment or in regular payments, and they pay your costs, for example, if you lose or damage something, or have an accident, injury, etc.: insurance against sth You can take out insurance against employee injury.
Which is the best definition of insurance for kids?
Kids Definition of insurance. 1 : an agreement by which a person pays a company and the company promises to pay money if the person becomes injured or dies or to pay for the value of property lost or damaged. 2 : the amount for which something is insured. 3 : the business of insuring persons or property.
Which is the best definition of business insurance?
insurance | Business English. an agreement in which you pay a company money, either in one payment or in regular payments, and they pay your costs, for example, if you lose or damage something, or have an accident, injury, etc.: insurance against sth You can take out insurance against employee injury.
What do you need to know about insurance vocabulary?
Insurance Vocabulary term meaning actuary n. a person who calculates risks for ins actuary Maggie loves maths so she’s thinking of assessor n. a person who calculates the value of assessor The assessor said our house is worth ove