in‧sur‧ance S3 W2
an arrangement with a company in which you pay them money, especially regularly, and they pay the costs if something bad happens, for example if you become ill or your car is damaged [↪ assurance, third party insurance]:
Your father took out insurance to cover the mortgage.
insurance against loss of income due to unemployment
Do you have insurance on your house and its contents?
claim (for) something on your insurance (=get an insurance company to pay for something)➔ life insurance
We can probably claim the damage on our insurance.
the business of providing insurance:
My brother works in insurance.
insurance company/group etc
the insurance industry
3 [uncountable] British English
the money that you pay regularly to an insurance company [= insurance premium]
How much is the insurance on your car?
4 [singular, uncountable]
protection against something bad happening
An extra lock on the door is an added insurance against burglars.