insurance vs insurance policy

insurance and insurance policy both are nouns.

Word	Noun	Adjective	Verb	Adverb
insurance	Yes	No	No	No
insurance policy	Yes	No	No	No

As nouns, insurance and insurance policy are synonyms defined as:

insurance and insurance policy: written contract or certificate of insurance

Other synonyms of insurance include policy.

insurance (noun)	insurance policy (noun)
written contract or certificate of insurance	written contract or certificate of insurance
promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company
protection against future loss