amount of insurance

USAGE SUMMARY

The phrase "amount of insurance" is correct and usable in written English.
It can be used when discussing the specific quantity or value of insurance coverage in a policy or agreement. Example: "Before finalizing the contract, we need to determine the amount of insurance required for the project."

✓ Grammatically correct

News & Media

Academia

Encyclopedias

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

Surely no amount of insurance could cover that?

The Guardian - TV & Radio

Employers have warned Congress against requiring them to provide any specific amount of insurance.

The New York Times

The amount of insurance coverage that corporations obtain, and the premiums they pay, should be disclosed.

The New York Times

So the companies simply collect a small amount in premiums for a small amount of insurance.

The New York Times

The exact amount of insurance available is still being explored in the court proceedings.

The New York Times

"No amount of insurance is going to magically make a provider appear," she said.

The New York Times

As the mortgage is paid off, the amount of insurance declines correspondingly.

Encyclopedia Britannica

Or will doing this reduce the amount of insurance that I will receive?..

The New York Times

He said the city recently increased the amount of insurance that livery drivers must carry, making such scams more profitable.

The New York Times

Regulators are demanding that if companies are drilling in the Gulf they get X amount of insurance," said Hiscox.

The Guardian - Business

The entire amount of insurance that has been written, also called the notional amount, is $62 trillion.

The New York Times

Expert writing Tips

Best practice

Always review your "amount of insurance" periodically to ensure it aligns with current market values and personal circumstances. This prevents gaps in coverage due to inflation or changing needs.

Common error

Avoid using "amount of insurance" interchangeably with the type of insurance. The "amount of insurance" refers to the monetary value of coverage, while the type describes the category of protection (e.g., liability, property, health).

Linguistic Context

The phrase "amount of insurance" functions primarily as a noun phrase, acting as the subject or object in a sentence. It specifies the quantity or extent of insurance coverage, as highlighted by Ludwig AI, who states that this phrase is "correct and usable in written English" when discussing the specific value of insurance coverage.

Expression frequency: Very common

Frequent in

News & Media

58%

Academia

21%

Encyclopedias

5%

Less common in

Science

16%

Ludwig's WRAP-UP

The phrase "amount of insurance" is a common and grammatically sound expression used to quantify the financial protection provided by an insurance policy. As Ludwig AI confirms, it's appropriate for discussing the specific value of insurance coverage. Analysis of various sources reveals that it appears most frequently in news and media, followed by academic contexts. While the phrase is generally neutral in register, it's crucial to differentiate it from the type of insurance coverage. Remember to periodically review and adjust your "amount of insurance" to ensure it aligns with current needs and market values. Alternative phrases, such as "level of coverage" or "sum insured", can offer nuanced ways to express the same concept.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

coverage amount

This term is a shorter, more direct way of expressing the quantity of coverage.

level of coverage

This alternative focuses on the extent of protection provided by the insurance policy rather than the specific monetary value.

insurance coverage amount

This inverts the original phrase while maintaining the same core meaning, slightly altering the emphasis.

insurance value

This phrase is similar but can also represent the monetary worth or premium associated with the insurance policy.

sum insured

This is a more formal and concise term often used in insurance documentation to denote the total value covered.

policy limit

This refers to the maximum payout the insurance policy will provide, emphasizing the upper boundary of coverage.

insurance payout

This focuses on the benefit received from the insurance, specifically the payment made in the event of a claim.

insurance compensation

This highlights the financial recompense provided by the insurance policy, emphasizing the act of being compensated for a loss.

insurance benefit

This phrase emphasizes the advantage or help provided by the insurance, shifting focus from the monetary value to the utility.

financial protection

This is a broader term that encompasses the overall security provided by insurance against financial losses, not solely the amount.

FAQs

How is the "amount of insurance" determined?

The "amount of insurance" is typically determined based on factors like the value of the asset being insured (e.g., a home's replacement cost), potential liabilities, or the desired level of financial protection. It's crucial to assess these factors accurately to avoid being underinsured.

What happens if the "amount of insurance" is insufficient?

If the "amount of insurance" is too low, you may face significant out-of-pocket expenses in the event of a loss. Being underinsured means the policy will only cover a portion of the damages, leaving you responsible for the remaining balance.

How can I increase the "amount of insurance" on my policy?

You can increase the "amount of insurance" by contacting your insurance provider and requesting a policy adjustment. This may involve reassessing your coverage needs and paying a higher premium to reflect the increased protection. Consider alternatives like "level of coverage".

Is the "amount of insurance" the same as the insurance premium?

No, the "amount of insurance" and the insurance premium are different. The "amount of insurance" is the total value the policy will pay out in case of a covered loss, while the premium is the periodic payment you make to maintain the insurance coverage. Consider that alternatives like "insurance coverage amount" are closer to amount of insurance.