insurance
nounUK /ɪnˈʃɔː.rəns/
US /ɪnˈʃʊr.əns/
A way to pay a little money so a company helps you pay for big problems later.
She bought insurance for her new car in case it gets damaged.
OTHER MEANINGS
2. The business of providing protection against loss in exchange for regular payments.
He works in insurance and helps families protect their homes.
3. A regular payment made to protect against a possible future event.
The insurance on their house went up after the storm.
4. Something that gives protection or safety from harm.
Saving money is a good insurance against hard times.
5. A promise or guarantee that something will happen or be done.
The team's hard work was an insurance of their success.