The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1918-01-04
INSURANCE Rates.
ORDERED REVISED
BY STATE BOARD
Premiums ON Buick Business
Houses Deeply Cut,
FRAME BUILDINGS ARE HIT
Order Blocks New Schedules
Recently Filed,

A revision OF fire insurance rates that
will result IN sweeping reductions in
premiums in many clasiiieations aud
increases in others was made in an or
der ISSUED by the state insurance board
today.
The order was issued as result Of
conference held yesterday between
members OF the state board and a Com-
mittee representing the insurance com
panies doing business in the state, New
schedules had been filed by {. T. In.
gals, manager OF the Oklahoma ipspec-
tion and rating bureau The new order
takes exceptions TO these schedules
Frame BuildinSs Hit
The largest reduction will be on fire.
proof buildings on which the rate is
lowered IS per cent. Reductions also
are made on all brick mercantile build.
ings and their contents.
Frame buildings bear the brunt OF
what increases are made, In the past
frame mercantile buildings have not
been bearing their proporlionate share
OF the risk involved, according TO Viii
liam K. Samuel, secretary OF the board.
The new schedule also provides for
higher rates IN unprotected towns. The
effect Of the change will be to en-
courage the erection Of brick and fire
proof buildings and 10 encourage towns
TO provide fire protection.
An average reduction OF 6 per cent !,
made on all brick buildings, not in
cluding contents, in all class towns
Firs-Pfoofing IncouraSsd,
A decrease Of Is per cent WAS mad,
In the rate 10y brick buildings occupied
for manufacturing purposV including
garages, bakeries, blacksmith shops
printing establishments theaters, bot
Ting works, box factories, candy fac.
tories, clothing manufactures, cream
cries, cheese factories, canning fac
tories, cold storage plants, feed mills
feed stores, ice cream and ice factories
mattress works, paint works, machin,
shops, livery stables, wood works.
The rate on the contents OF brick
buildings in ell classified towns was re
duced on an average of IS percent Pub
lie buildings, including schools and
churches, will get reduction Of 10 per
cent.
Frame mercantile buildings IN all
class towns will pay All increased rate
Of l215 percent and frame residences in
unprotected towns will pay l2lI percent
more. A new farm schedule was adop-
ted which will result in over rate
for brick or stone farm buildings Frame
farm residences were increased ~ per
cent and frame barns and outbuildings
will pay an increased rate OF Is percent
New Term Rule.
The new schedule provides great
decrease in Exposure charges in pro-
tected cities. In the past the charge for
two exposures, that is where a resi-
dence was within ten feet OF houses on
both sides, was almost as much as tlN
original insurance charge Under the
new schedule charge can be made
only for one exposure, the nearest, and
the rate for this exposure was cut S
percent
Reductions would have been much
greater on some classes but for the
fact that a new-term rule is put IN et'
feet where formerly three years insnr'
ance was allowed for the payment OF two
ANNALS, two and one-half ANNALS viii
be allowed and where five years IN
surance was allowed for three ANNALS
four ANNALS will be required.