Insures

To insure means to protect against a possible event or contingency, typically by paying a premium to a company in exchange for a guarantee of compensation in the event of loss, damage, injury, or death. It signifies a financial agreement where the insurer assumes risk, and the insured receives a degree of financial security. Insurance policies detail the specific terms and conditions, outlining covered events, exclusions, and the extent of compensation provided. The purpose of insurance is to mitigate financial burdens arising from unforeseen circumstances, offering peace of mind and a safety net against unexpected costs.

Insures meaning with examples

• Sarah meticulously insures her vintage car against theft and accidental damage. She pays a monthly premium to the insurance company, knowing that if her car is stolen or damaged, she'll receive financial compensation. This allows her to drive with peace of mind, without worrying about potentially devastating repair or replacement costs. The policy outlines the scope of coverage and the conditions for making a claim. It offers protection from events beyond her control.
• Before embarking on her world cruise, Emily insures her trip against potential disruptions, such as illness or cancelled flights. She purchased a comprehensive travel insurance plan which reimburses her for prepaid expenses should unforeseen circumstances arise. This insurance policy covers medical emergencies, lost luggage, and cancellation fees, providing her with financial security and the flexibility to adjust her plans without incurring significant losses should she have to alter the itinerary.
• The homeowner insures their property against fire, flood, and other natural disasters. They pay an annual premium to the insurance company. The comprehensive policy covers the structure of the house as well as personal belongings. This arrangement provides financial relief should a covered event occur. If disaster strikes, the homeowner can file a claim for compensation. Insurance offers financial support and peace of mind against catastrophic property damage.
• The company insures its employees against workplace injuries and accidents by contributing to a worker's compensation plan. This benefits both the employees and the company. In the event of a job-related injury, the employee receives financial assistance to cover medical expenses and lost wages. It also protects the company from large lawsuits and ensures compliance with labor regulations. This ensures the well being of their employees.
• The farmer insures his crops against hail damage and drought, understanding the potential impact of adverse weather conditions on his livelihood. Paying an annual premium grants him a financial safety net. If his crops are damaged by covered perils, he receives compensation to offset financial losses. Crop insurance reduces financial risk associated with weather-related disruptions. The policy will pay him for the loss of revenue due to those events.