Meaning of “insurance policy” in the English Dictionary

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"insurance policy" in British English

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insurance policynoun [ C ]

uk /ɪnˈʃɔː.rəns ˌpɒl.ə.si/ us /ɪnˈʃɔːr.əns ˌpɑː.lə.si/

a written agreement for insurance between an insurance company and a person who wants insurance:

I took out a travel insurance policy before I boarded the plane.
figurative There's one particular job I'm after but I'm applying for several others as an insurance policy (= because I might not get the job I want).

(Definition of “insurance policy” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"insurance policy" in Business English

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insurance policynoun [ C ]

uk us

INSURANCE a document stating the agreement between an insurance company and a person or company that has arranged insurance with it:

take out/apply for/have an insurance policy To make sure that your employer can pay the compensation, they must take out an insurance policy.
a travel/accident insurance policy

(Definition of “insurance policy” from the Cambridge Business English Dictionary © Cambridge University Press)

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