Let's look at the basic terms in the insurance contract:

• The insurance payout is the amount paid by the insurance company (Insurer) in the event of an insured event. The amount of the payment is determined by the terms of your insurance contract and is limited to the amount specified in the contract. For example, if an insured event has occurred, the Insurer will pay you or your loved ones compensation within the established insurance amount.

• Insurance coverage is the conditions and circumstances under which an insurance company is required to make an insurance payment. They are spelled out in detail in the contract and determine which cases will be considered insured.

• Insurance amount (liability limit) — the maximum amount that the insurance company is obliged to pay in the event of an insured event. This amount is set at the conclusion of the contract and depends on the chosen insurance program.

• The insurance premium is the amount that you, as the policyholder, must pay to the insurance company for providing insurance coverage. The premium is calculated depending on the amount of insurance coverage, the amount of insurance and other factors.

Understanding these terms will help you not only choose the right insurance program, but also feel confident in any situation. After all, knowledge is the first step to safety! And what kind of insurance experience did you have? Share it in the comments!

For more information about the types of insurance of Kazakhmys Insurance Company, call 2090 (free of charge from any mobile operator).