insurance
//ɪnˈʃʊrəns//
Noun
insuranceSingular
insurancesPlural
1
An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.
I need to buy health insurance before I start my new job.
2
The business or practice of insuring property, life, or a person against risk or harm.
She works in insurance and helps people protect their homes and cars.
3
Money paid for an insurance policy; a premium.
The insurance on my car is $800 a year.
4
A thing providing protection against a possible eventuality; a safeguard.
I always keep a backup of my files as insurance against computer failure.