Good morning . I ’ d like to ask some questions about your insurance policies .   Of course . Please sit down . How can I help you ?   I bought a house recently and would like to insure it and its content .   I see . Here ’ s a pamphlet about our home insurance policy . We ’ Ve named our policy ” umbrella ” . May I ask how much you paid for your home and where you live ? These are the two main thing that decide how much your premiums are .   I understand . I live in the Oakfield area and paid $ 100,000 for my home .   Let me just check that on my computer . Oakfield is a low risk area , so your premiums will probably be around $ 100 a month . The other thing to take into account is deductibles .   In this pamphlet it says that the minimum amount for deductibles is $ 2000 . what does that mean exactly ?   It means That the first $ 2000 of any claim you make must be paid by you . The insurance policy covers any amount above that , up to the agreed limit .   Oh , I see . That ’ s fine . What is the advantage of having higher deductibles ?   If you have higher deductibles , your premium are lower , because you will pay more of the claim and we will pay less .   It seems that I should do some calculations before deciding . I presume that the insurance period can be for as long as we agree .   We initially sign one-year policies with our policyholders . These are renewable after the first year . 