The basic ruling is that any kind of commercial insurance is prohibited, because the contract contains much ambiguity, uncertainty, and usury.

The aforementioned ruling was declared by numerous fiqh councils in the Muslim World a long time ago.

However, some exemptions based on necessity and pressing need are to be considered. Examples include: health insurance for Muslims residing in the U.S. because of the high cost and unaffordable expense of medical treatment, liability car insurance because it is required by law, etc.