Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1917-11-04

Last years Ford in the same district
may be covered against theft to the
extent Of 60 per cent of Its cost price
at 81 for theft and $3.50 for fire. II
the same make Of car Is two years
old, then not more than 40 per cent
Of its cost price Is insurable and the
rate for theft is rs cents and for fire.
$3.50. This is true in proportion for
cars Of all prices.
Let us look for a moment upon what
fire and theft insurance means to the
car owner. This policy reimburses the
holder for either complete or partial
loss or damage to the car. Its body.
machinery or any equipment attached
to and forming part or the car, put
II does not cover robes, coats and
other wearing apparel left in the car
unless Endorsement covering such ar
ticles is made on the policy at the
time 1t Is written. The policy holds
good while the car is within the linz
its OF the United States-exclusive or
Alaska. Hawaiian islands and Porto
Rico-and Canada while in buildings,
on roads, on railroad car or other con
veyance ferry or inland steamer, or
Goa oastWise steamer between ports with
in the territorial limits mentioned.
1t is evident that the car owner Is
given a wide latitude of travel with
out invalidating his policy. There are
two forms Of fire and theft insur-
ance-one policy known as the nom
valued form on which only an amount
is payable that takes into considera-
ton the depreciation in value OF the
car as the policy grows older and for
which the rate is 25 cents a hundred
less than the valued money, which
covers to the face of the policy If theft
or total consumption by fire occurs,
even IL this occurs on the last day the
policy is in force.
Read Your Policy Carefully.
Never has the phrase exceptions
In all cases been more truly proven
than in the insurance policy. 1t Is
well to understand your policy thoro-
ly, for If you only think you under
stand. it is likely you will find your
reasoning faulty when your construc-
ton of the phraseology and that of
the company underwriting the lnsur-
ance take the issue after loss. Here
are some Of. the conditions under
which you. cannot collect on your
policy:
If you now have or hereafter
take out similar policy with another
company unless written permission Is
given.
2-If you carry passengers for COM
pensation. Taxicab companies, OF
course, get insurance, but 1t is at
higher rate and in another form.
3-If you rent or lease your car.
4-If you assign your interest In the
car, either all or in part. without
written consent of the company. Poll
cies may be transferred when the car
is sold, but unless the company con-
sents, the insurance is invalidated.
hacnnag IN hprpi
by lien or mortgage.
Notice Of loss must be made imme-.
diately in writing to the company.
The company's liability on non-valued
policies does not extend beyond the
actual cash value Of the car at the
time of the loss or damage, and in no
case is the liability in excess of the
amount it would require to repair or
replace the damaged part.
Different districts and frequently
certain cities within a district will
have different rates applying to fire
and theft insurance. These rates are
governed by the hazard. For ex-
ample, theft rates are the highest in
Detroit and Chicago, two cities in
which the most cars are stolen each
year. Thefts have reached the point
where insurance men question the
sanity Of trying to write insurance on
cars at any rate of premium.
Theft insurance on electrics is 10
cents hundred and fire alone on new
models 80 cents, year-old models,
s1.15; 2-year-old $40; 3-year-old,
s1.65, and old models, s1.90.
BY using locking device that is
approved by the underwriters n Is
per cent reduction in that part of the
premium that Is for fire If an ap
proved fire extinguisher is attached
to the car 1t should not be assumed,
however, that by affixing a lock-and
fire extinguisher 80 per cent re-
duction In premium Is obtained-the
total reduction for both would be
about Is per cent on the total COM
bined rate for fire and theft.