What does insurance mean in a sentence?

The meaning of INSURANCE is coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril. How to use insurance in a sentence.

What is insurance & how does it work?

Insurance is a contract, represented by a policy, in which a policyholder receives financial protection or reimbursement against losses from an insurance company. The company pools clients’ risks to make payments more affordable for the insured. Most people have some insurance: for their car, their house, their healthcare, or their life.

What is insurance by contract?

coverage by contract in which one party agrees to indemnify or reimburse another for loss that occurs under the terms of the contract. the contract itself, set forth in a written or printed agreement or policy. the amount for which anything is insured. insured. an insurance premium. Taking vitamin C is viewed as an insurance against catching colds.