To take out an insurance policy on something or someone so that compensation will be paid in case of loss or damage.
車を買ったらすぐに保険をかけるつもりだ。
I plan to insure the car as soon as I buy it.
この家具は高価だから、運送時の損害に備えて保険をかけておいた。
Because this furniture is expensive, I insured it against damage during shipping.
生命保険をかけることで、万が一の場合に家族が備えられる。
By taking out life insurance, your family will be provided for in case something happens.
Figuratively, to take precautionary measures or prepare a backup plan — to hedge one's bets or play it safe.
プロジェクトが失敗してもいいように、別の業者にも発注して保険をかけておいた。
I placed orders with another contractor as insurance in case the project fails.
投資ではリスク分散のために保険をかけることも大切だ。
In investing, it's important to hedge your bets by diversifying as a form of insurance.
念のため、旅行のキャンセル保険をかけておいた。
Just in case, I took out trip cancellation insurance.