Assurance vs. Surety — What's the Difference?

A statement or indication that inspires confidence; a guarantee or pledge

In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay one party (the obligee) a certain amount if a second party (the principal) fails to meet some obligation, such as fulfilling the terms of a contract.

Freedom from doubt; certainty about something

The condition of being sure, especially of oneself; self-assurance.

Self-confidence

Something beyond doubt; a certainty.

Chiefly British Insurance, especially life insurance.

A pledge or formal promise made to secure against loss, damage, or default; a security.

The act of assuring; a declaration tending to inspire full confidence; something designed to give confidence.

One who has contracted to be responsible for another, especially one who assumes responsibilities or debts in the event of another party's default.

The state of being assured; total confidence or trust; a lack of doubt; certainty.

Certainty.

Firmness of mind; undoubting steadiness; intrepidity; courage; confidence; self-reliance.

That which makes sure; that which confirms; ground of confidence or security.

Excessive boldness; impudence; audacity

(legal) A promise to pay a sum of money in the event that another person fails to fulfill an obligation.

(obsolete) Betrothal; affiance.

(legal) One who undertakes to pay money or perform other acts in the event that his principal fails therein.

(insurance) Insurance; a contract for the payment of a sum on occasion of a certain event, as loss or death. Assurance is used in relation to life contingencies, and insurance in relation to other contingencies. It is called temporary assurance, in the time within which the contingent event must happen is limited.

A substitute; a hostage.

(legal) Any written or other legal evidence of the conveyance of property; a conveyance; a deed.

Evidence; confirmation; warrant.

(theology) Subjective certainty of one's salvation.

The state of being sure; certainty; security.

The act of assuring; a declaration tending to inspire full confidence; that which is designed to give confidence.

That which makes sure; that which confirms; ground of confidence or security.

The state of being assured; firm persuasion; full confidence or trust; freedom from doubt; certainty.

Security against loss or damage; security for payment, or for the performance of some act.

Firmness of mind; undoubting, steadiness; intrepidity; courage; confidence; self-reliance.

One who is bound with and for another who is primarily liable, and who is called the principal; one who engages to answer for another's appearance in court, or for his payment of a debt, or for performance of some act; a bondsman; a bail.

Excess of boldness; impudence; audacity; as, his assurance is intolerable.

Hence, a substitute; a hostage.

Betrothal; affiance.

Evidence; confirmation; warrant.

Insurance; a contract for the payment of a sum on occasion of a certain event, as loss or death.

To act as surety for.

Any written or other legal evidence of the conveyance of property; a conveyance; a deed.

Something clearly established

Freedom from doubt; belief in yourself and your abilities;

Property that your creditor can claim in case you default on your obligation;

A binding commitment to do or give or refrain from something;

A prisoner who is held by one party to insure that another party will meet specified terms

A statement intended to inspire confidence;

One who provides a warrant or guarantee to another

A British term for some kinds of insurance

A guarantee that an obligation will be met