promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
car insurance 1
noundomain: possession
Princeton WordNet [ver.3.1]
English
Definition
insurance against loss due to theft or traffic accidents
a system of automobile insurance where a party who is injured in an automobile accident recovers damages up to a specific amount against his own insurance company regardless of who was responsible for the accident