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Updated by Stacey D on Oct 09, 2018
Headline for What is Insurance?
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What is Insurance?

Learn more about insurance and why it is important protection to have.

Intro To Insurance: What Is Insurance? | Investopedia

By Cathy ParetoInsurance is a form of risk management in which the insured transfers the cost of potential loss to another entity in exchange for monetary compensation known as the premium. (For background reading, see The History Of Insurance In America.)Insurance allows individuals, businesses and other entities to protect themselves against significant potential losses and financial hardship at a reasonably affordable rate.

What is insurance?

Put simply, insurance is a financial product designed to make sure that you are protected
in the event of an accident or disaster. Below is an essential guide to insurance.

New Jersey Personal Insurance Coverage & Plans - Marine

Marine Agency offers personal insurance in New Jersey. Our NJ insurance policies are available for homes, vehicles, and watercraft.


Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.