THIC r,i:xi:RAI. C<1\1>1TI()XS OV IXSrUAXCK A(;ainst itrk 



41 



of the local lire iusuraucc coiiipauies would udil much to the stabihty aud 

 safety of the fanners' mutual organizations in any State where combined 

 protection is now offeroil by the local mutuals ". 



b) 1 1)1 port ancc 



The total amount of insurance carried by the 1,947 farmers' nuitual 

 fire insurance companies in existence on i January iQis.the latest date for 

 which relatively complete statistics arc at hand, was ap]iroximately 

 $5,264,119,000. The total amount paid for losses during 1914 was 

 Sio,70(),()5i and the exj)enses of operation were .'53,i38,()49, making the 

 total cost of this insurance $13,905,300. From these figures it may be 

 seen that the average cost ])er c; 100 of insurance in all these companies 

 was about 26 cents. 



The farmers' nuitual companies almost without exception limit the 

 amount of the insurance written to either three fourths or two thirds of the 

 actual value of the jiroperty. A reasonable allowance for this fact shows the 

 total value of the farm property insured by these companies to be approxi- 

 mately $(), 730,000,000. The total value of all insurable farm pro])erty 

 in the forty-eight States on i January 1915 was, as nearly as can be estimated, 

 815,880,000,000. This would indicate that nearly 42 ^/., per cent, of all 

 insurable farm ])ro]ierty in the forty-eight vStates of the Union was insured in 

 the farmers' mutual fire insurance companies. 



The following table shows the geographical distribution of these eomi)a- 

 nies, the total amount of their insurance in force on 1 January 1915, and the 

 average cost of $100 of insurance during 1914 : 



Geographical Division 



New Kngland 



Middle Atlantic 



East North Central 



West North Central 



South Atlantic 



East South Central . . 



West S<nith Central ... 



Mountain 



Pacific 



Total 



Thus the average cost of insurance \'aries from 22 to 44 cents for 8 100 

 in the different divisions. I'or each vState in which the total insurance 

 amounted to 8 1,000,000 or more the average cost per 8 100 of the insurance 



