coverage amount
Insurance payout cap
Coverage amount is the maximum sum an insurance policy will pay for a covered loss or claim.
When purchasing insurance—health, life, auto, or homeowner's—you select a coverage amount based on your needs and budget: The policy has a coverage amount of $500,000.
Higher coverage amounts mean higher premiums but greater protection against catastrophic losses.
- payoutMoney distributed to recipient
- limitMaximum allowed extent
- valuationAssessment of monetary worth
- indemnityProtection against financial loss
- underwritingRisk evaluation and acceptance
claim · out of pocket · reserve fund · face value · insured value · risk assessment · umbrella policy · reinsurance · contract terms · policy · binding agreement · renewal terms · check · risk · death benefit · loss · total · number
coverage amountpremium
Added cost for better
insurance premium · deductible · copay · monthly premium · coinsurance
coverage amountcoverage gap
Uninsured interval within plan
exposure · underinsurance · insufficient coverage · risk exposure · out-of-pocket maximum
coverage, amount, cover, covers, covered, covering, uncover, uncovered, recover