WHAT IS AN INSURANCE?

The term insurance comes from the Latin secūrus and has different uses and meanings in the Spanish language. It is about what is true and indubitable, or that appears free of risk and danger . The word safe is used as a synonym of security or certainty.

Insurance

In this sense it is necessary to expose that there are many devices in our current society that have what is called insurance. It is a mechanism thanks to which it is avoided that they work without the will of the person who uses them. This would be the case, for example, of weapons because they have an insurance that prevents them from being triggered accidentally causing damage and injuries to people, installations or objects.

In this sense, for example, one can speak of safe sex , which refers to those sexual relationships where the health of those involved is not put at risk (when using a condom to avoid sexually transmitted diseases , etc.).

On the other hand, an insurance is a contract through which a person pays a premium to receive compensation in case of suffering an accident or theft, for example. There are also life insurance , where the insurance company pays a certain amount to the relatives of the deceased.

In the same way, it is also common for every person who has one or several vehicles to have a car insurance. And is that thanks to this document, and the corresponding payment of fees that must be paid periodically, that individual is guaranteed the payment of material disasters that may have your car because of an accident or any other type of casualty.

In this field acquires a fundamental weight the figure of the professional known by the name of insurance broker. This is an individual who works for an insurer in question and whose main function is to act as a mediator in the establishment and signing of the aforementioned contract between the individual and the aforementioned company.

In insurance contracts , there are obligations and reciprocal rights for the insurer and the insured. The insured's intention is to obtain economic protection for their property or for those who may suffer damages, while the business for the insurer is to collect the premium.

The insurance contract implies the existence of an insurable interest (a legal relationship is established between an economic value and a good, it is possible to insure material goods, such as a house or a car, and immaterial, as an economic loss or lost profit) , an insurable risk (the possible, uncertain and future event that may cause damage to the insurable interest), a premium (the cost of insurance) and the obligation of the insurer to indemnify (when charging the premium, the insurer is obliged to assume the risk and pay compensation in case of an accident).

In addition to all the above, and to finish, we have to make clear that there are many expressions that we use in a colloquial manner and that resort to the use of the term insurance that now occupies us. So, in particular, there is the adverbial phrase "on insurance", which is used to refer to someone going to venture to do something knowing that there is no risk in it.