Insurance is when you pay money regularly to an insurance company to protect yourself or your business from problems you don’t expect. This money you pay is called a premium. If something bad happens—like an accident, illness, or damage—the insurance company helps pay for those costs according to what your policy says. Your policy is a paper that explains what is covered and how to claim money. The company collects premiums from many people and puts it together in a big pool of money. When someone faces a loss, the company uses this pool to help them. This way, everyone shares the risk, so no one loses a lot of money alone. Insurance keeps you safe from big money problems and gives you peace of mind.​

Insurance