Jamestown weekly alert. [volume] (Jamestown, Stutsman County, D.T. [N.D.]) 1882-1925, 1913-07-17
BUSINESS DETAILS OF
co. MUTUAL ms. co.
DISCUSSED BY STATE ASSOCIA-
TION MEMBERS-LOW RATES
FOR FARM INSURANCE.

A number of new companies were
enrolled at the Thursday afternoon
meeting of the Farmers Mutual In
surance association, and additional
delegates from other counties arriv-
ed to attend Fridays meeting. 1t
was intended that the visitors be TAX
en- to the state hospital grounds
Thursday for a visit to that institu-
tion, but rain interferred and the
time was put in in an additional dis
cussion at the city hall.
A good deal of information was
derived from the questions and an
swers regarding different points
that came up in the mutual fire in
surance business. One of the ques-
tions that took up good deal OF time
was a discussion of the question,
Should partial losses on buildings
be paid in full?" This subject was
considered in an address by Mr.. I.
Johnson, and there was division Of
opinion among the delegates. Some
held that any personal property loss
should be paid in full according to
the terms of the policy, and others
held that the loss should !'e paid IN
the amount of two-thirds of the
claim, as buildings are only insured
for two-thirds of their value. The
idea of the company is to make the
insured take a portion of the risk
themselves. Some of the companies
however, pay partial losses in full, :
The insurance of stock was also
considered. Most of the companies
place valuation upon stock, putting
it in some cases lower, it is said, than
necessary, so that two-third pay
ment in case of loss would not be
fair.
Some of the companies issue
special one year grain policy at 1925
per 81, eco. This has proved to be
very nice business. .~3r
Insurance of Autos Hazardous.
The matter of insuring automo-
biles was taken up, and the opinion
was expressed that it was too risky
a proposition for the mutual COM
panies. Some of the old line COM
panies, however, insure autos at a
very high rate, from $25 to $50 a.
$1,000, but the insurance is not TAX
en- on autos after three years, and
there are many conditions hedging it
about. One of the delegates de-
clared that 1T was more necessary to
insure against the loss of an auto to
garage people if they had chance
to repair it than it was to insure the
machine against fire."
Among the new members enrolled
were mutual companies from Rugby,
Dickey county, and from Kenmare.
The statement was made that num-
ber of mutual companies were doing
a business of from $3,00O,O00 to
$5,OOO,OOO and that the rate was
about a third of the old line insur-
ance rates. The keeping down OF
unnecessary expenses, there being
no high salaried officials, or agents
with large commissions, and with
fair adjustments, the business of the
state and county mutual has so far
been a cooperative success, the same
as many other cooperative compa-
MES in other lines and activities.
Among the counties that are now
enrolled in the state association are
Bottineau, with two companies NC
Henry, Wells, Benson, Pembina'
Grand Forks, Stutsman, Steele
Trail, and Richland.
Residents of the towns In nearly all
of these counties are patronizing the
farmers mutual insurance Plan Tor
country property.
Livestock is insured in nearly all
the companies against loss by nre or
lightning, either in barn, shed or
field. Lightning is one of the COM
mon causes of fires and loss OF botn
stock and farm property. Some OF
the mutual companies embrace DIS
trict of more than one county, the
stutsman County Mutual for instance
having a territory Of five counties.
There is a special state tornado as
sociation, and a great deal OF insur-
ance on farm buildings is written by
that association, which embraces
large portion of the companies in tho
state, as no one company will be pre-
pared to pay losses incurred oy
tornado, which usually destroys much
property in one place. The losses'
therefore, are spread over the entire
state and are looked after by the
~-..ao Asoociafi0n of County