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DEFINITION
Insurance is a written contract between an insurance agency (insurer) and an person or entity for which the insurer offers safety towards monetary losses.

Insurance is a written agreement among an coverage agency (insurer) and an person or entity for which the insurer gives safety towards financial losses. The insurance organisation is able to offer this protection via pooling danger from a huge organization of people and entities with comparable needs.

Insurance is commonly designed to protect you in the event of a loss you can’t otherwise pay for, such as if you total your vehicle or require highly-priced surgical treatment. If you don’t bring insurance, you’ll be 100% liable for all associated costs and fees whilst an twist of fate occurs.

Definition and Example of Insurance

How Insurance Works

Types of Insurance

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