Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1907-12-18
INSURANCE COMPANIES

MUTUAL INSURANCE COMPANIES
The president of one of the state
mutual insurance companies adj
dresses the following communists
ton to the Tribune, which contains
information that may be Of service
to farmers:
within the last few years, the
farmers of our state have awakened
to the great need of protecting them
selves from loss to their crops from
hail, and other property from the
terrible cyclones and windstorms
that so frequently visit us. The
fact that when loss occurs, it is
widespread and heavy, prevents
township and county companies
from writing this line of risks, and
makes state companies needful.
In this line, as we'll as in all
lines where work is done at dis
lance from the home office. there
are many men who write good hon.
est business, while few will resort
to all schemes to write an applica-
tion. They will represent that the
policy that covers single risk COW
ers all kinds of damage and in
cludes loss Of every kind on every
thing the applicant has; the cost is
only the small amount paid to him,
or if more, will amount to practi-
cally nothing.
! 1.-The mutuals of the state want
the writing if they can get it hon.
estly, but getting it in the way
above mentioned must be stopped.
l ask every paper in the state to
publish this and every farmer and
land owner to read, cut out and
keep it. What say applies to our
company. and | think in the main
will apply to all mutuals in the
state
"First-The application Of both
hail and cyclone are printed to read
for five years. Unless changed,
you have a five year policy. AS
there is no moral hazard, as you
cannot cause storm, the selling of
property, or moving away, does not
release you. You are holden for
all assessments, until policy expires
or is ca 1celled.
"Second-The amount you pay
the agent goes for expenses, the
same as the amount you pay when
you join the Woodmen or Workmen
or any other mutual order. You
are liable for future assessments
the same as in those orders. The
cost, exclusive of what you pay the
agent, has for years, in the mu.
tuals, been from so to rs per cent
of that of old line insurance.
'Third-Crop or hail insurance
covers loss to your growing crops
only, against damage by hail only.
Of course, when there is wind the
hail will do more damage, but in
no other way is even wind taken in.
to consideration when settling loss.
In settling loss, you receive the face
of your policy if the loss is tota
and one-half the face of your policy
if your loss is one-half, etc., re.
CARELESS of whether your crop is
good or poor. You see that he who
pays for $500 per acre pays twice
as much as he who insures fo1
$500, and in all cases Of loss gets
! TWICE as much. A state law re-
quires that the application read
the anual assessments shall not be
less than q per cent nor more thar
5 per cent The real cost has beer
! from 3 to 4 cents on each dollar
each year.
! ourth-Cyclone insurance fo1
a long time has cost our company
20 cents only on each $4,000 once
in two years. | think the cost il
other mutuals has been about the
same. This is exclusive of wha
you pay the agent. The first assess
ment is made soon after you insure
probably the first fall, to provide
money for loss. If loss occurs, one
must rebuild at once and canno
wait for assessments. Cyclone in
surance insures you against los
from wind that does damage to sub
stantial buildings, etc. 1t covers
only buildings and their contents
live stock, machinery, farm pro
ducts while in a building, etc. L