New-York tribune., 1908-02-05
POLICIES THAT PAY
HOU TO OBTAIN THEN.
R. o. HauboM Tells Realty School
about Fire Insurance.

In an address about Fire Insurance, delivered
last night by r. o. Haubold an expert In 'hat
branch insurance world. AZ the redI es'a'7
school of the West Side Young Mems Chrisuan
Association in s7th street between Eighth and
Ninth avenues. the good and bad points OF various
policies written in this state ana aiiec"he Piop
erty in this city clearly revealed Inc sPe"Ae'
showed that most persons who insure property
which thev own against damage by fire have an
inaccurate idea about the face value OF the p'ii-
ces they obtained and if their property Is adlase'
destroyed by fire they often rsali~e that ~
were only partly insured when they inasihed '"e'
fully insured against loss
He also briefly referred 10 the methods pursueu
in ascertainng whether or not a nre was 'io 49,
of incendiary. There was recently Sent " =, ~ e
Sing for twenty years. said Mr.. Haucoid' MO"
who SO, fire 10 stable to get the insurance Oh
some horses he owned The horses were not Vdiue"
over 500 each yet he insured theih '' e..
many times greater than their real Vdiue' III -
horses become frenzied and Wildly JUMP ""'''
causing considerable noise and excitement
so the man poisoned the horses by putting az
senic in their feed before setting the s'ap'7
The horses dead or dying oeIole 'ie
broke out and as such horses under such coiioi
,ions make no noise the flames spread rapidly Pc
fore attracting attention. After the nre 'he eO
tents of the stomachs of the horses "eie &C. &C. -
by a veterinary. and that analysis reNeaieu '.''
horses had been poisoned. 1t did not take lohs "
hrire, the fncendisrv TO trial and his conviction
soon followed.
Mr. Haubold also said in part follows;
The first duty broker is to inform hinsed
ana then to make such provision in the wgl1teh written
form of his policy that pTif pTSllfege i his risk as
are necessary to the occupation put are -
For one instance. the title Of of the prop
be insured should pe ciea[H Id fnpiture and
wearing apparel-and il IS the intention 10 s eGrs
P @ iidren o M Who are over the legal age-pro-
vision can and should be made by using = within tne ne
any member of the family; guests ana seftdnSI 'oIs
ani,sarints medals pictures and sculptures must
be specifically mentioned 10 be coVereu pS 'i'e
If chatel mortgage exist or be Placed sbad upGd
personal property to be insnree tse us the pocv
"GGi IF buiidngs are to be insured, care should be
taken to issue the policy in the name OIL me PEI
in whom title is Vested nd tnnf ,pon ground
held in any way other than fee simple the poncy
will be voided by that fact In g,rh artces as
awnings hall and stair coverings, snaGes, ~,
should be Specifically mentioned, as they are not
part of the building and would not DE coyeieo
cali your attention to the usual method OF incrd I
ing awnings while attached 10 otn 0u1a5 nn5 storing
them in the cellar during the winter @ mas 4 b 70 %
provided for ~ read and Se TGge eoaasd in or
to outside of building -,od
If the premises be or become vacant for peIloa
Of than ten days the contingency nus De ms M
The usual way Is to include IN all Isant or
uuoccuped. while waiting or during lenpoldIiS;
alterations or repairs for a period OF more tna1 nan
fifteen DAYS at any time Is prohl6Ited anu
should be watched carefully and provided ior IN
the event of loss occurring the conditions OF tHe
roIicv to filing of proofs OF loss within a speci-
fed time and the giving of notices TO tne coilpaS
OF such loss should be careIuiy c0npalTp arf after
nd peuding adjustment OF the claim ShouIu
be well Understood. it being incumbent upon lns
insured take the necessary steps 10 Pre- P[s I,se
further damage than that which was dlrectIS caASeU
The Changing Of ownership of the insured prop
erty requires immediate attention as does also ing
IaIC of
greater hazard than existed at the time OF Ino
issuing of the policy. should il come to the knowl
bv lightning without fire ensuing is not covered 1y
the usual form. but be provided for and should
be invariably provided for by attaching the S'aiu
IN the cancellation Of policy Of the COMPANY
the rights Of the assured mortgage should oe
carefully guarded. 1t is necessary that the as
tention to cancel, and the mortSagee ten DAYS OF
such intention. It is sufficient that the COM
pany should give only hve DAYS notce OF t Se ,; m
tention to cancel and measure same from the time
that notice is mailed, but the five days must be hs-
ured from the time of the receipt OF sucn notice
bv the assured days by the mortgage
Foreclosure proceedings begun with the knowl-
of assured should be 1mmedla tely cornInurl-
Gated 10 the company. and the necessary Qernns-
sion ndorsed upon the policy
Whenever a monetary loss would be sustalIied
as the result of a fire, it is fair to assume that
a insurabe interest exists. For instance. direct
loss of rentals result OF f1Te Is certainly an
insurable interest. and should be without
this class of insurance. and broker should fail
suggest ii to his client When property is held
lease the profits aCCruing from said lease are
insurable and should be protected When business
is conducted at profit and fire would prevent
realization of that profit the possible loss should
he protected. This latter is called and C
Cupancy" insurance. and it specifically agrees 10
to the assured a certain a day for the
length OF time the business does not produce that