A slot machine of the present invention comprises: a symbol display device capable of variably displaying a plurality of symbols; an image display device; and a controller, the controller programmed to conduct the processing of: (A) executing a game in which the plurality of symbols are variably displayed and then stop-displayed to the symbol display device after game media are BET in number equal to or less than a previously set maximum number of BETs, and game media are paid out in number according to the plurality of symbols stop-displayed or a combination thereof; (B) shifting a mode from a non-insurance mode to an insurance mode on condition that a predetermined number of game media is inserted; (C) counting the number of games played after shifting to the insurance mode, in the insurance mode; (D) paying out a predetermined number of game media when the number of games counted in the processing (C) reaches a specific number; (E) shifting the mode from the insurance mode to the non-insurance mode, when the predetermined number of the game media is paid out in the processing (D); (F) shifting the mode from the insurance mode to the non-insurance mode, when a predetermined insurance canceling condition is established before the number of games counted in the processing (c) reaches the specific number; (G) displaying an image showing that the mode is shifted to the non-insurance mode to the image display device, when the mode has been shifted from the insurance mode to the non-insurance mode.