The weekly Floridian. [volume] (Tallahassee, Fla.) 1867-19??, 1886-03-25
CAsap G.iSs Insuraaos

Cheap LIN xmsmromOe.
It b estimated by insurance compantes thas
In the United States lat year dWelling houses
were burned at The rata Of ono every hour, with
In average loss Of 81 SEQ. Barns and stables, 20
oss nss Comfy sss s0' Ts s'. 81. sa na s.
with los per year Of q. 100000. Every other
day lumber yard goes up In smoke. each rep
resenting $4,000. FOrty-four cotton factories,
the loss Ia each case being t28.000; forty-three
wooden mills At $4,000 each, and forty-two
chemical works at $4,000 each, were destroyed
by fire last year. Forty-two boot and shoe FAC
tories were consumed, the loss being $l7,OU
each. Theatres were Tapped up by the fiames at
the rate of i've per month, average loss xlS,OUO.
Only about half as many court houses were de-
stroyed, the cost Of each being about $SOOOO.-
CharlestOn Nescs and Courier.
Notwithstanding constant losses under
writers continue TO insure property at
rates which are within the means of
owners, while insurance on life is at rates
which exclude the great majority from
its benefits. The question why this is so
would probably be met by the answer that
houses may burn but men must die. This
somewhat apothegmatic reply would ap-
parently settle the question, but it really
does not. Life insurance plans are based
on average expectation of life, and just as
well might property insurance be
based on average duration of build
ings; yet such calculation .is not
made basis, though it easily might be,
and conclusions reached as accurate as
those in calculations on human life. But
such plan in property insurance would
not result in raising rates to as high fig
ures as in life insurance, Except in extra
ordinary risk9 forit has been delnonstra-
ted that property insurance is very
profitable business without being based
on calculations of the duration of houses,
which doubtless have less average of ex-
istence than men have-the buildings
that exist for long periods being compare
lively so few that they do not materially
affect the general average. If, then, there
is no greater, or even less, risk in life in
surance than in property insurance, there
is no reason why the premium should be
larger in that class of insurance than in the
latter. The usual man is always watch
ing to save his life, but cannot always
watch to save his building or buildings !;
and he is far less likely to commit suicide
for the benefit of his heirs than to commit
arson for his own benefit.
1t would seem that plan of life insur-
ance cheaper than any now practiced
could be devised, the rates to be lower
than the lowest in property insurance.
This would place life insurance within the
means of people generally, who could
insure from year to year, or intermit,
as in property insurance and the
policy being good while kept up,
and but small amount having been
expended, the "lapsing of a policy ="
would not seem the deplorabls thing that
it now does. A company working on
this plan would doubtless do vast bust.
ness, and be safe without the enormous
profits which are realized by companies
on the present plans, and which prove
that they could be safe at much lower
rates. Yet as all men must die, policies
under the plan suggested might be called
in by the company when the holders
reached the age of sixty, the company
refunding to them the amount of pre-
miums paid. Such provision would de-
ter few from entering company which
it would strengthen, and whose policies
were good as long as held, and would
provide reimbursement of money to a
man glad that he had not died. Cheap
life insurance is one of the desiderata de-
manded by the progress of the age, and
in due time it will come-life insurance
that can be taken out as readily as that
on house, dropped or resumed, at nc
more cost and equally reliable. The
various assessment plans have aimed te
supply it, but the records of such associ
atoms show that the charges so light at
first become higher the longer they re
main in operation, and finally become sc
heavy as to break them down.