You’ll learn vocabulary connected to insurance so that you can feel perfectly safe and fully insured when you’re driving, skiing, climbing mountains and listening to this podcast!
Voice message from Jorge from Argentina.
What’s the difference between insure, assure and ensure?
Ensure means to make certain or guarantee something. For example, “I will ensure that the project is completed on time.”
Assure means to tell someone something to make them feel sure/convinced about something. For example, “The doctor assured John that his illness was treatable and nothing to worry about.”
Insure refers to providing or obtaining insurance coverage against potential risks. For example, “I need to insure my car against theft.”
Use “ensure” when you want to guarantee an outcome, “assure” when you want to convince someone and “insure” when you’re talking about insurance policies
Vocabulary
To take out insurance
Insurance policy / Policyholder: The person who owns the insurance policy.
To be covered (by insurance) / Coverage: The extent of protection provided by an insurance policy.
Example: “Check your coverage to see if it includes flood damage.”
Insurance broker – a professional (or company) that acts as an intermediary between clients and insurance companies.
Underwriter: The person or company that evaluates and assumes the risk of an insurance policy.
Example: “The underwriter assessed the risk before issuing the policy.”
Premium: The amount paid for an insurance policy.
Example: “She pays a high premium for her health insurance.”
Deductible (US) / Excess (UK) : The amount you pay out of pocket before insurance covers the rest.
Claim (to make or file a claim): A request for payment based on the terms of the insurance policy. (no-claims bonus)
Beneficiary: The person designated to receive benefits from an insurance policy.
Example: “She named her children as the beneficiaries of her life insurance.”
Liability: Legal responsibility for damages or loss.
Example: “Liability insurance protects you if someone is injured on your property.”
Third party insurance/liability: Coverage for damage or injury caused to another person
Third party, fire and theft insurance/liability: Car insurance which in addition to third party also includes the cost of repairing/replacing your car if involved in a fire or if someone steals or tries to steal it.
(Fully) comprehensive insurance: Coverage of (nearly!) all conceivable eventualities, regardless of the cause
Some of the most unusual things people have insured
Keith Richards’ Hands
Bruce Springsteen’s Voice ($6 million)
Gene Simmons’ Tongue
Dolly Parton and Jennifer Lopez have insured their iconic body parts, such as breasts and buttocks
Some gentlemen involved in the adult entertainment industry have whopping great…insurance policies covering their most important asset, like Kieran Lee, who insured a certain body part for $1 million.
Alien Abduction: Some people have taken out policies to cover them in case they are abducted by extraterrestrials
Santa’s Beard: A professional Santa Claus insured his beard to protect his holiday persona.
Tom Jones’s Chest Hair
Discussion
What do you have insured?
Have you ever needed to make a claim?
Do you ever buy product insurance when you buy expensive things like a TV, computer or phone?
…and now it’s your turn to practise your English.
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