protection vs insurance

protection and insurance both are nouns.

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

As nouns, insurance is a hyponym of protection; that is, insurance is a word with a more specific, narrower meaning than protection:

protection: defense against financial failure; financial independence
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

Other hyponyms of protection include easy street, hedge, hedging.

As nouns, insurance is a hyponym of protection; that is, insurance is a word with a more specific, narrower meaning than protection:

Other hyponyms of protection include indemnity, radioprotection.

protection (noun)	insurance (noun)
the activity of protecting someone or something	written contract or certificate of insurance
payment extorted by gangsters on threat of violence	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
kindly endorsement and guidance	protection against future loss
the imposition of duties or quotas on imports in order to protect domestic industry against foreign competition
a covering that is intend to protect from damage or injury
defense against financial failure; financial independence
the condition of being protected