The herald-advance. (Milbank, S.D.) 1890-1922, 1919-05-09
STATE HAIL
INSURANCE
TO THE FARMERS AND LAND
OWNERS OF DAY COUNTY.

/ want to say q word In regard to
the State Hail Insurance Law and
call your attention to some Of the
advantages and benefits it is to the
farmers Of Day County, and ask that
you give this a fair trial. II we then
find it is o practical and does not
ave you money, we can. two years
from now. repeal this law and get 1t
OF the statute books.
This law is the same as a Mutual
Company and is composed OF ALL
the farmers and land owners of the
State of South Dakota, and IL you,
who have been in the habit OF carry
ing insurance in Old Line Companies
Or Mutual Companies, will now insure
your crops among yourselves. you can
see that the cost to you is going to
be reduced.
We have in Day County a Farmers
Mutual Company composed of farm
ers who are saving money in prem
iums every year. and just think this
company is composed Of only a few
men, while in the new Hail 1nsur-
ance Law you have all the farmers
OF the state combined in just ONE
GREAT BIG COMPANY. Isn't that
bound to win out and reduce the cost
of insurance to you?
We have had a number OF people
tell us that the state cannot pay it's
losses. That is a very foolish state
ment. They certainly can and will
the same as any other company
Mutual or Old Line. Did you ever
see a hail torn that covered all Of
Day County or the whole State Of
South Dakota? No, o did not nor
did anyone else. If anything like
that occurred you could not get a
company to write a policy in the
state.
Did 1t ever occur to you that we
have in the state fire companies com
posed OF implement dealers who are
nothing more than the implement
dealers Of the state bonded together
for mutual protection in order to re-
duce the cost OF their insurance to
them? Why not the Farmers Hail
Insurance on the same plan.-with
thousands OF more members? Same
way with the Merchants Mutual,
Druggists Mutuals. and others.
Now, another item that will be a
big saving in the State Hail Insur-
ance Department is the overhead"
expenses. You know that the Old
Line Companies have a great many
high priced men to pay. office rents.
etc. and last, but not least, the com
missions paid to agents
! don't blame the insurance COM
panies for trying to discourage you
on the State Hail Insurance PROPOSE
ton. as it means a loss OF a lot Of
money to them Take in Day County
last ear. the premiums received by
insurance companies amounted to
$73.343 O8. losses $~36,156.S4, profits
to companies. s37,lS6 "a. Do you
wonder why they don't want you to
try out tho state plan?
They tell you other states failed
to pay a full loss and so will South
Dakota The answer to this is that
the State Of South Dakota found out
where these other tates failed and
has protected herself against this and
will therefore be In a position to
make full settlements OF all claims
Now. don't take it from the above
that the county auditors Of the state
are going to make any money for
themselves from this hail insurance
business The facts of the case are
that. il VIZ could get all the farmers
OF the state to cancel their right to
obtain this protection it would save
us all kinds OF extra work (without
and additional salary. but we feel
that 1t is going to save the farmers
money; and. as 1t is their own COM
pany. we want them to give it a fair
trial. Remember you are getting
your crops protected for less than
one-half price.--35c per acre for
$1,000 insurance. instead OF zoe to
9Oc.
know q number Of our farmers
are carrying Mutual Insurance Gas I
wrote them myself. and you rejoice
In the fall whom you get your notice
from these companies. That owing
to the small losses by your company
the past season your premium will
be 5000 instead OF $500" You
are the company. as II Is mutual, and
II their losses had been greater than
their premiums you would have been
asked to come across" with an ad-
ditional assessment instead OF getting
. dividend.
You are morally bound to try this
out. and you will find It 10 q good
thing and every year your premiums
and rates will be reduced.
Further. you have q year practical
II to pay your premiums without In
terest. as you won't have to pay It
until you pay your taxes. and you
know your taxes run until April LIT
Without interest.
Don't let anyone sell you insur-
ance when you have the greatest
mutual company In the world as It
10 composed OF all the farmers and
land 0wners in South Dakota.
THINK 1T OVER.
Yours YER truly.
S. H. ICELAND,
County Auditor.