ESL Podcast 292 - Business Insurance
to lose control of (something) - to no longer be in control of something; to not be able to influence how something moves or happens
When I was driving home last night, I thought I was going to lose control of my car on the icy roads!
insurance company - a business that one pays money to every month so that the business pays money when there is a problem, such as death, fire, sickness, or an accident
Which insurance company do you use for life insurance?
full coverage - protection against all types of problems; an agreement with an insurance company to pay money for all types of problems
Full coverage is more expensive than partial coverage, but it's good to have because you never know what kind of problems might happen.
to be insured against (something) - to have financial protection for something; to have an agreement with an insurance company so that it will pay money if something happens
After the big storm last year, we decided to get insurance against flooding.
policy - an agreement with an insurance company; a legal document between an insurance company and its customer, describing what problems the company will pay for
Hank's life insurance policy says that his wife and children will get $350,000 when he dies.
to lapse - to expire; to no longer be valid; to pass the time period described in a legal document
Karina's gym membership lapsed last year because she didn't pay money to renew it.
annual - yearly; once a year; every year
Tomorrow I have my annual appointment with my doctor for a check-up.
premium - the amount of money that one pays to have an insurance policy
Auto insurance premiums are higher for people who have had a lot of accidents.
act of God - something that happens that people have no control over, like an earthquake, hurricane, tornado, or flood
After the earthquake destroyed the apartment building, the insurance company wouldn't pay anything because it said that the policy did not cover acts of God.
covered - insured; protected so that an insurance company will pay for the cost of something; protected by an insurance policy
Are alternative treatments covered by your health insurance?
adjuster - a person who works for an insurance company and goes to where a problem happened to see how much the company should pay
When Jaime has a car accident, he called the insurance company so that it could send an adjuster to look at his car.
claim - something that one asks an insurance company to pay for
The insurance company is reviewing our claim for the cost of replacing the roof after a tree fell on it.
business interruption insurance - a program where an insurance company pays money if one's business has to close for a period of time
Monica has a small business that had to close temporarily last year while she was in the hospital. I'm so glad she had business interruption insurance.
to guard against (something) - to protect one from something; to do something so that something cannot create problems
The doctor told me to eat a lot of fruits and vegetables to guard against heart disease.
to get the ball rolling - to begin doing something; to start a process
We need to hire a new employee. Let's get the ball rolling by putting an ad in the newspaper.
thank goodness - an expression used to show gratitude; an expression used to show that one is grateful for something
Many people say, "Thank goodness it's Friday!" at the end of the week, when they're tired of working and are ready for the weekend to begin.
raise - an increase in one's salary; a rise in the amount of money that one receives for working
Genevieve earned $45,000 last year, and then she got a 10% raise, so now she makes $49,500.