B2nounformal1K

Insurance

UK /["/ɪnˈʃʊərəns//ɪnˈʃɔːrəns/"]/US /["/ɪnˈʃʊrəns/"]/

Definition

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

In simple words: A way to protect yourself financially from accidents or unexpected events.

Examples

  • He decided to purchase insurance to protect his new car.
  • The company offers various types of insurance, including health and life insurance.
  • Without insurance, medical bills can become overwhelming.
  • They filed a claim with their home insurance after the storm damaged their roof.
  • Insurance can help mitigate financial loss in case of unforeseen events.
  • She worked in the insurance industry for over a decade.
  • Travel insurance is advisable for those planning international trips.
  • Investing in insurance is a smart decision for safeguarding your future.
  • Many homeowners are required to have insurance to secure their mortgage.
  • Insurance policies can vary greatly in terms and coverage options.

Usage notes

Often used in discussions about financial planning, health care, and legal matters. Not typically used in casual conversations about daily life.

Grammar pattern

insurance + object

Memory hint

Think of 'in-sure-ance' — you want to be sure you're covered!

Collocations

  • comprehensive
  • adequate
  • additional
  • have
  • maintain
  • lack
  • cover somebody/​something
  • pay for something
  • cover
  • coverage
  • policy
  • insurance against
  • insurance for
  • insurance on
  • a certificate of insurance
  • a contract of insurance
  • a period of insurance
  • comprehensive
  • adequate
  • additional
  • have
  • maintain
  • lack
  • cover somebody/​something
  • pay for something
  • cover
  • coverage
  • policy
  • insurance against
  • insurance for
  • insurance on
  • a certificate of insurance
  • a contract of insurance
  • a period of insurance
  • comprehensive
  • adequate
  • additional
  • have
  • maintain
  • lack
  • cover somebody/​something
  • pay for something
  • cover
  • coverage
  • policy
  • insurance against
  • insurance for
  • insurance on
  • a certificate of insurance
  • a contract of insurance
  • a period of insurance

Synonyms

  • protection
  • coverage
  • policy
  • safeguard

Antonyms

  • risk
  • exposure

Common mistakes

  • Confused with 'assurance', which means certainty.
  • Using 'insurance' as a verb; it is a noun.
  • Mixing up types of insurance (e.g., health vs. car insurance).