The Monitor. [volume] (Woodstown, N.J.) 1884-1892, 1891-02-20
HORSE LIFE
Two Companies survive OF sfsny That
Tried the Scheme and Failed.

live stock insurance company that recently
went to smash.
"Horse life insurance has been disas
trous to every capitalist who has touched
it until a very short time. and after taking
advantage of experience gained in botf
Europe and America, horss life insurance
is still an experiment. In Earope horse
life insurance has been tried for more than
100 years, with a fair share of success to the
investors in the enterprise. Inthis country
it has baen conducted on various plans,
and many of the schemes rave failed to
meet the end for which they were designed.
Though not ever a dozen years has elapsed
since the lives of horses were insured on a
large scale in New York city, there have
been thirteen failures Of insurance compan-
les. There are only two horse life insur-
ance companies, | believe, having their
main offices in town. A live stock insur-
ance company in Buffalo has a branch
agency in town, but it does not do a raft OF
business. 1t is probably shy of any but
the choicest risks, such as family carriage
horses and well-kept business horses doing
light draught service.
"The reasons why there have been so
many failures of horse life insurance CON-
panies are undoubtedly because the COM
panies tried to insure horses too cheaply,
and also because the companies officers
tried to ape the human life insurance com
panies and impress the community by SET
ting up business in big offices, with plate
glass fronts and gilt lettering, while big
salaries were paid to agents, and lat plums
fell to the lot of the officers themselves.
There are now only two companies of any
size thai underwrite horses in town, and a
bitter rivalry exists between them. 01e
company is up town and the other down
own The uptown Office is chartered
under the insurance laws of the State,
while the downtown company was organ
lied under chapter 267 of the Laws of 1885
providing for the creation of mutual bene-
fit associations. Both are mutual benefit
associations.
IA III WY WY Va Col
losses in insuring horses has led to the
adoption of a rigorous ruling out as iuad-
missible for insurance purposes a large
class of horses. No company will insure
car horses, livery horses, contractors
horses, race horses, or any fancy-priced
horses. Other horF baritd are runaYays,
blind horses, cribhers, horses 18th heaves
or blind staggers or mad stagggers. cab
horses, omnibus horses, and business
horses. Owners are required to declare
whether their horses have had pink eye,
collie, heaves, lung fever, poll evil, dis
temper, mad staggers, bad sight, SPAWN,
contracted hoofs, or r~ingbone.
Each Of the insurance companies has a
veterinary surgeon in its employ, who
hammers on the horses chests, looks into
their mouths, and puts the animals
through as thorough a test of their physie-
al health as meu undergo in a life insur-
ance company's medical examination.
The price for an examination is usually
50.
"Auimals from one to twelve years are
insurable for terms of three years, over
twelve years only from year to year. H.
surance is confined practically to mules
and carriage horses not worth over $500,
and not less than 500. No insurance
certificate can be had now, l believe, Tor
more than three-fourths the value of the
animal. The downtown company more
over has a big pasture containing fifteen
acres or more of good land not far from
Williamsbridge, where horses are sent 20
pasture in summer Horses only get oats
a-plenty when they are suffering from
over work or nervous prostration. The
resort is free to insured horses. With the
consent of the company, one horse may be
substituted for another. That is, the policy
may be transferred from one to another.
Inspectors make regular rounds among
the insured horses and report their condi-
lions atthe company's Office. That has been
found a necessary course to pursue in order
that INSCRIPTIONS owners may De prevent
ed from poisoning a horse when he is in
poor health, iu order that he may get the
horse insurance. Owners of horses must
notify the company if they change their
place OF residence.
SIS it worth while to insure horses
I think SO if you are lucky enough to own
an insurable hcrse. The way the compan-
les are insdriug you will have to pay only
| one per cent. annually on the value of the
horse for your insurance policy. A curious
| experiment in horse insurance has been
tried for a year by the Retail Grocers'
| Union of this town, an organization. of
900 members. Inside of the union a horse
| insurance fund was started in February,
1890, and Il per cent. was collected on the
amount for which each horse was insured,
while losses were sustained pro rata by
the members in the scheme. A yearly
examination fee Of So was charged, 81 to
be retained if the horse should not be ac-
cepted. No horse was insured for over
| IS per cent. of its value.
'In less than eight months losses by
pneumonia and other diseases have been so
great that the grocers will probably be