'assurable' originates from Anglo-French/French, ultimately formed from the verb 'assure' plus the suffix '-able'. The verb 'assure' comes from Old French 'asseurer' (or French 'assurer'), itself from Latin elements meaning 'to make safe' or 'secure'.

'assurable' developed by attaching the adjectival suffix '-able' (from Latin '-abilis') to Middle English/Old French forms of 'assure' (e.g. Old French 'asseurer' → Middle English 'assuren'), eventually yielding the modern English adjective 'assurable'.

Initially related to making something secure or safe (from Latin roots meaning 'secure'), the term shifted to the adjective sense 'capable of being assured or guaranteed' and, in specialist contexts, to 'capable of being insured'.