Insurable: meaning, definitions and examples
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insurable
[ ɪnˈʃʊr.ə.bəl ]
insurance context
Insurable refers to something that can be covered by an insurance policy. This means that the risk associated with the entity or event qualifies under the terms set by an insurance company for protection against specific losses. Commonly, insurable items include properties, life, health, and automobiles. However, not all risks can be insured, as they might be uninsurable for various reasons, including high risk or lack of control. Understanding insurable risks is crucial for both insurers and insured to ensure fair coverage and claims processing.
Synonyms
covered, insurable asset, risk-covered
Examples of usage
- This property is insurable.
- Her life is insurable under the policy.
- All assets should be insurable to mitigate losses.
- The risk factors make this vehicle insurable.
Translations
Translations of the word "insurable" in other languages:
🇵🇹 assegurável
🇮🇳 बीमा योग्य
🇩🇪 versicherbar
🇮🇩 dapat diasuransikan
🇺🇦 страхувальний
🇵🇱 ubezpieczalny
🇯🇵 保険可能な
🇫🇷 assurable
🇪🇸 asegurables
🇹🇷 sigorta edilebilir
🇰🇷 보험 가능한
🇸🇦 قابل للتأمين
🇨🇿 pojistitelný
🇸🇰 poistiteľný
🇨🇳 可保险的
🇸🇮 zavarovalni
🇮🇸 tryggjanlegur
🇰🇿 сақтандыруға болатын
🇬🇪 სადაზღვევო
🇦🇿 sığorta edilə bilən
🇲🇽 asegurables
Etymology
The term 'insurable' derives from the root word 'insure', which dates back to the early 15th century. Originally, 'insure' meant to secure against loss or damage, likely coming from the Latin word 'securare', meaning 'to make safe'. The suffix '-able' indicates that something can be done or is capable of being done. In the context of insurance, the term has evolved to specify a condition or asset that qualifies for coverage under an insurance policy. The expansion of the insurance industry during the 17th and 18th centuries, especially in maritime and property sectors, popularized the need to categorize what could be insured. As markets and risks have developed over the centuries, so too has the understanding of insurable risks, leading to more nuanced definitions and policies. Today, insurable risks play a foundational role in risk management and financial planning.