[speaker001:] Good morning. I 'd like to ask some questions about your insurance policies.
[speaker002:] Of course. Please sit down. How can I help you?
[speaker001:] I bought a house recently and would like to insure it and its content.
[speaker002:] 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.
[speaker001:] I understand. I live in the Oakfield area and paid $ 100,000 for my home.
[speaker002:] 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.
[speaker001:] In this pamphlet it says that the minimum amount for deductibles is $ 2000. what does that mean exactly?
[speaker002:] 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.
[speaker001:] Oh, I see. That 's fine. What is the advantage of having higher deductibles?
[speaker002:] If you have higher deductibles, your premium are lower, because you will pay more of the claim and we will pay less.
[speaker001:] It seems that I should do some calculations before deciding. I presume that the insurance period can be for as long as we agree.
[speaker002:] We initially sign one-year policies with our policyholders. These are renewable after the first year.
[speaker001:] If I have a claim, how long does it take to make a settlement? I 'Ve heard that with some insurance companies, it can take months.
[speaker002:] That is of great concern to out clients. We aim to satisfy all claims within a month, but we can 't guarantee that