noun a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium
Provides coverage for medical expenses incurred due to illness or injury
Covers damages and liabilities related to owning and operating a vehicle
Protects against damage or loss to one's home and belongings
Provides financial protection for loved ones in the event of the policyholder's death
Covers risks associated with running a business, such as liability and property damage
Offers protection against unexpected events while traveling, such as trip cancellations or medical emergencies
Writers may purchase professional liability insurance to protect themselves in case of defamation or copyright infringement claims.
Psychologists may have malpractice insurance to cover any legal claims made by clients for negligence or misconduct.
Doctors typically have medical malpractice insurance to protect themselves in case of medical errors or negligence claims.
Lawyers often have professional liability insurance to cover legal malpractice claims made by clients.
Construction workers may have workers' compensation insurance to cover injuries or accidents that occur on the job.