Indemnify/ɪnˈdemnɪfaɪ/ Definition 1 of 3Pro Tip 1/3Insurance Context Often used in insurance terms to describe coverage for specific incidents. The policy will indemnify you if your car is stolen. Pro Tip 2/3Financial Safety Implies protection against money loss with a sense of guarantee. They offered to indemnify my expenses from the trip. Pro Tip 3/3Not Always Full Indemnification might not cover all losses, but up to a certain limit. We will indemnify up to the appraised value of the goods.