Insurance Proceeds

The money you get from an insurance payout.

Your new experimental self-driving car starts spouting gibberish before the vehicle suddenly steers hard to the right. You jump the curb, race through a parking lot and ultimately crash into the dumpster next to a Dunkin Donuts. No one else was hurt, but you're pretty beat up: lots of bruises and scratches, as well as a broken arm.

You file a claim with your insurance company for $150,000 in damages and medical expenses. The insurer approves the claim and sends you a check for the $150,000. That money (the $150,000) represents insurance proceeds.