Meaning of the word "auto insurance" in English

What does "auto insurance" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

auto insurance

US /ˈɑː.t̬oʊ ɪnˌʃʊr.əns/
UK /ˈɑː.t̬oʊ ɪnˌʃʊr.əns/
"auto insurance" picture

Noun

1.

a contract between an individual and an insurance company to protect against financial loss in the event of an accident or theft involving a vehicle

Example:
You need to get auto insurance before you can drive the new car.
My auto insurance premium increased this year.
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