What's the difference between
and
Enter two words to compare and contrast their definitions, origins, and synonyms to better understand how those words are related.

Insurance vs Surety - What's the difference?

insurance | surety |

As nouns the difference between insurance and surety

is that insurance is a means of indemnity against a future occurrence of an uncertain event while surety is certainty.

insurance

English

Noun

(wikipedia insurance) (en-noun)
  • A means of indemnity against a future occurrence of an uncertain event.
  • *{{quote-magazine, date=2012-01
    • , author=Philip E. Mirowski , title=Harms to Health from the Pursuit of Profits , volume=100, issue=1, page=87 , magazine= citation , passage=In an era when political leaders promise deliverance from decline through America’s purported preeminence in scientific research, the news that science is in deep trouble in the United States has been as unwelcome as a diagnosis of leukemia following the loss of health insurance .}}
    The car was totalled, but fortunately I had insurance .
  • The business of providing insurance.
    • After five years in banking, I switched to insurance .
  • Metaphoric: Any attempt to anticipate an unfavorable event.
    • The sky was clear, but I took my umbrella for insurance .
  • Blackjack: A bet made after the deal, which pays off if the dealer has blackjack.
    • I only take insurance if the count is right.
  • (countable) An insurance policy
  • * {{quote-news, year=2009, date=February 18, author=Cheryl Critchley, title=Free child care for Victorian bushfire victims, work=Herald Sun citation
    • , passage="The children need to get back to some level of normalcy and their families can certainly use some respite to deal with things such as insurances , licences and other things they have lost," he said. }}

    Derived terms

    {{der3, automobile insurance , car insurance , casualty insurance , credit insurance , earthquake insurance , fire insurance , flood insurance , freight insurance , group insurance , health insurance , insure , insurer , insurance adjuster , insurance agent , insurance agency , insurance claim , insurance company , insurance fraud , insurance plan , insurance policy , insurance premium , insurance scam , liability insurance , life insurance , malpractice insurance , no-fault insurance , pet insurance , property insurance , reinsurance , term life insurance , transportation insurance , unemployment insurance , whole-life insurance , insurance agency}}

    See also

    * actuary * annuity * broker * float * underwriter * workers’ compensation

    surety

    English

    Noun

    (wikipedia surety)
  • certainty
  • * Bible, Genesis xv. 13
    • Know of a surety , that thy seed shall be a stranger in a land that is not theirs.
  • * Sir Philip Sidney
    • For the more surety they looked round about.
  • That which makes sure; that which confirms; ground of confidence or security.
  • * Milton
    • [We] our happy state / Hold, as you yours, while our obedience holds; / On other surety none.
  • (legal) A promise to pay a sum of money in the event that another person fails to fulfill an obligation.
  • * Shakespeare
    • There remains unpaid / A hundred thousand more; in surety of the which / One part of Aquitaine is bound to us.
  • (legal) One who undertakes to pay money or perform other acts in the event that his principal fails therein.
  • * Bible, Proverbs xi. 15
    • He that is surety for a stranger shall smart for it.
  • A substitute; a hostage.
    • (Cowper)
  • Evidence; confirmation; warrant.
  • * Shakespeare
    • She called the saints to surety , / That she would never put it from her finger, / Unless she gave it to yourself.

    See also

    * surcharge * surcharged * indorsement