News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1910-11-23
FARM INSURANCE:
What an Ohio Mutual Company
Is Doing In This Line.
It Has $500 Members, Carries $4,40o,-
0CO In Risks, and Its President Gets
a Salary of $50 Year-Compariso
of Costs With Old Line Companies.

| Salary OF $5O Year-ComparIson
of Costs With Old Line Companies.
The Huron County (OJ Farmers
Mutual Insurance company was or
ganized thirty-one years ago. 1t has
not always had smooth sailing, TOR it's
losses have been large some years.
/ and yet only once in that time has its
annual assessment exceeded the cost
every year for protection in the old
line companies. The relative cost can
best be determined. says E. P. Snyder
in the National Stockman. by com
parison covering series of years.
During the time the Huron County
co. Mutual has been doing business
-thirty-one years-the average annual
assessment has been S2.96 per $1,000.
The present rate of old line companies
for farm property is $40 per ST 900 for
three years and So survey feel. e..
policy of $1,000 would cost $12, just
81 per $1,000 per year. A policy of
$4,000 would cost SD. or $3.G6 % per
$1,000 per year A policy of $1,000
would cost So, or 1885 so per $1,000
per year, and so on But. no matter how
great the policy. the cost must exceed
$3.33 1-3 per $1,000. because that is the
cost exclusive Of survey fee
, But the rules of these companies are
not as intleXibe as the laws of the
Modes and Pcrsians. One of my
friends had real estate in three diff.
ferent places. and at every renewal
the agent made him cut three sepa-
rate policies and charged him three sur
vey feps-$6 This grew mouotonnus
for the farmer after term of Years.
ness be put in one policy, "Oh. yes,"
the agent said. I'VE can do that" AT
the next renewal the farmer remarked
thar rather than pay any more survey
fees he would quit the company and 90
into u mutual. and the agent obligingIv
rut out the survey fee entirely.
The Huron County Mutual charges
n $2 membership fee and 10 cents ncr
500 for the amount insured InSur-
aimee is perpetual. As long as mem
her keeps M his. assessments ne is
projected buildings are insured for
three fourthS of their value and Der.
Sonal propprty'at its full value The
company inSures against both fire and
lightning. but not against wind. The
amounts paid for live stock are limited
TO 5000 for horse. SO for cattle. 500
for hogs and 81 for sheep. Losses must
be paid within sixty days of the time
of Cling the proof of loss They are
adjusted by committee of three mem
bers of the company appointed by the
president.
The officers are president. vice presi-
dent. secretary. treasurer and three d.
rectors. The presidents salary is $50
per year. secretary's $500. treasurer's
$40 and the vice presidents and three
directors 50 per day for the time &C.
tually employed. usually amounting to
ZIG to $50 per year. The company now
has S4.400.000 at risk and 1900 mem
bers An agent is maintained in each
township. who is paid S1.5O for each
application written and so cents and
mileage for additionals.
There are 126 successful farmers
mutual fire insurance companies now
n Ohio and about 240 in Illinois. It ,
s said.
1t is estimated that $4,000 children ]