Shepherdstown register. [volume] (Shepherdstown, Va. [W. Va.]) 1849-1955, 1895-05-02
JEFFERSON COUNTY MUTUAL.
An Assessment Made-How It Has Saved Money
For the People.


The Jefferson County Mutual Fire
Insurance Company has made an as
sessment of 5 per cent on its premium
notes to meet the extraordinary losses
incurred by fire during the past year
This company was organized seventeen
years ago. It's object was to furnish
our home people safe insurance at mod
crate rates. It's policy was not to ac-
cumulate large surplus, to pay Of
fcers large salaries and to loan out
with risk of loss, but to have in
the pockets of the insured the differ
ence between the Mutual rates and
those charged by stock companies.
Great care has been observed in the
selection of risks, but Notwithstanding
this caution, unusual losses have been
sustained recently. The stock compa-
MES have met these losses by largely
increasing their premium charges, the
Mutual by levying small assessment
on its stock notes.
There are two features ofmutual IN
surance that should particularly COM
mend the Jefferson Mutual to the peo-
pie of this county. The first is its re-
liability and the certainty of paying
all its losses, the premium notes, which
are those of our most substantial citl-
zens, being liable for the amount /;
whereas stock companies may and
often do fail. The second is its low
rates, of which we will give below a
number of examples taken from the
books of a well-known insurance firm.
The Jefferson Mutual has saved the
people of this county many thousands
of dollars in the seventeen years 1t has
been organized. In the first place, its
organization had at once theimmedlate
effect of reducing the rates of Compel
ing stock companies, and its charges
have been and are now from 25 to so
per cent lower than the latter. Those
who have been insuring in the Mutual
have had equally as good protection
and have gotten it a great deal cheap
er than they could have gotten it from
other companies.
We have before US two policies on
the REGISTER building, for exactly the
same amount for the same length of
time. The premium on the Jefferson
County Mutual policy is So; on the
other policy, which is that of leading
Wheeling stock company, the premium
is SIS. The assessment on the Mutual
note is 81, which, added to the pre-
MUM, makes but $12, or So less than
the stock company's charge. 1t will
thus be seen that we could stand an
assessment every two or three years
and still save money. The present as
sessment, however, is the only one in
seventeen years.
A Shepherdstown merchant has an
insurance of $4,000 on his stock of
merchandise in the Mutual. The pre-
MUM is $6.4O year. In a stock
company it would be $15. He has
been in the Mutual for eight years, and
his actual saving in that time, count
ing in his assessment, has been S6O.80.
On policy No. 2235, held on farm
buildings near Shepherdstown, the Mu-
tual charges $40 for five years. Stock
companies $40.
Policy No. 1888, merchandise IN
Shepherdstown, for 5000, premium in
Mutual $40, Stock companies Sc.
Policy No. 2O88, farm buildings near
Shepherdstown, for $4,000, cost in Mu-
tuaI $2l. Stock companies $50.
Policy No. 1924, (Which was on the
Reynolds mill) cost in the Mutual
$l1.25. In stock companies the same
amount cost $l825.
Policy No. 1889, farm buildings
near Bakerton, premium in Mutual
$12. Stock companies $50.
Policy No. 1893, farm buildings
near Shepherdstown, cost in Mutual
81. Stock companies $3.50.
We think the fact that the Jefferson
County Mutual has made light as
sessment on its notes.-the first IN Its
history-will not impair the confidence
of the people in its policy or its man
agement. On the contrary, we are con-
fdent that as the benefits Of mutual
insurance are better understood that
it will receive even more liberal sup
port in the future. Indeed, some OF
our most prominent business men, both
before and since the. assessment was
made, have transferred their insurance
from other companies to the Mutual
The assessment made by it, they say
is nothing like as heavy as the increase
| =: -, 1o+oT, oooda b,y the STOCK com.