In brief, you get compensation when MakerDAO crashes (ESM triggered). There's a large pool(rainy day fund) underwriting insurance. You buy some units of insurance. The price of a single unit is determined by a given formula. Learn more. You can choose to pay an extra fee to get a longer insured period. The more you pay, the longer the insurance lasts. If MakerDAO ESM is triggered during your insured period, you will get parts of the funds in the pool, depending on the percentage