insurance

Try making your own sentence. Get instant feedback.

Insurance Definition & Meaning

1. Insurance is a contract between an individual or entity and an insurance company, where the individual or entity pays a premium in exchange for protection against financial loss from specified events or circumstances.

Example: "i purchased car insurance to protect myself from financial loss in case of an accident."

2. Insurance is a risk management tool that helps individuals and businesses mitigate the financial impact of unexpected events or losses.

Example: "my business has liability insurance to protect against lawsuits and financial loss."

3. Insurance is a financial product that provides protection against loss or damage to property, life, health, or other assets.

Example: "i have health insurance to cover the cost of medical treatment if i get sick."

4. Insurance is a way to transfer risk from an individual or business to an insurance company, which assumes the risk in exchange for a premium.

Example: "i bought travel insurance to protect against the risk of trip cancellation or lost luggage."

5. Insurance is a mechanism for pooling the risks of many individuals or businesses to spread the financial impact of losses across a large group.

Example: "the insurance company uses actuarial science to calculate the likelihood of losses and sets premiums accordingly."

Examples of the word insurance used in sentences.

  • It is important to have home insurance to protect your property from unexpected damages.
  • Travel insurance is a must-have when going on an international trip.
  • My health insurance covers the cost of my doctor visits.
  • Many people buy life insurance to ensure their loved ones are financially taken care of after they pass away.
  • I need car insurance before I can drive on the road.
  • The insurance company offered us a good deal on home insurance when we bought our new house.
  • My friend's house was damaged in a storm, but thankfully his insurance covered all the repairs.
  • I need to renew my car insurance before it expires next month.
  • I didn't have travel insurance when I went on holiday, and ended up having to pay for my own medical treatment when I got sick.
  • I'm thinking of getting pet insurance for my dog, in case she gets sick or injured.
  • It's important to have car insurance in case of any accidents or damages.
  • Homeowner's insurance is essential in case of any unexpected damages or natural disasters.
  • I'm thinking about getting life insurance so that my family is financially protected in case something happens to me.
  • I always make sure to purchase travel insurance before going on any international trips.
  • My employer provides health insurance as part of my benefits package.
  • Insurance companies often require a home inspection before providing coverage for a new property.
  • As a small business owner, I had to purchase liability insurance to protect my company from any legal claims.
  • When traveling abroad, it's crucial to get travel insurance in case of lost baggage or medical emergency.
  • Without health insurance, many people are unable to afford necessary medical treatments and procedures.
  • Despite the high cost of insurance, it's important to have coverage in case of unexpected events.
  • Despite paying for comprehensive insurance coverage, I still felt uneasy about the potential risks of driving in heavy traffic.
  • The insurance form appeared to be straightforward, but I was shocked to discover numerous exclusions and hidden fees buried in the fine print.
  • Many people overlook the importance of purchasing travel insurance until they experience a flight delay or their luggage is lost.
  • As a homeowner, I always make sure to review my insurance policy annually to ensure that it adequately covers any potential damage from natural disasters or accidents.
  • The cost of health insurance premiums has skyrocketed in recent years, making it more difficult for some families to afford adequate medical coverage.
  • Due to the increasing number of natural disasters, getting home insurance has become a necessity rather than a luxury.
  • The insurance company refused to renew his policy after he failed to disclose his medical history.
  • Despite having comprehensive insurance coverage, the cost of repairing her car after the accident was still exorbitant.
  • The company's insurance policy for its employees includes a generous health care package.
  • After a long and difficult battle with the insurance company, she finally received compensation for the damages caused by the flood.
Copyright © 2023 Jaehyeong Lee
hi@jaehlee.dev
Home | Check | About | Sentences | Word List | Idioms | Slang | 한국어