Insurance of Farming Stock. TJUne, 



any such tanks or vessels, or within fifty yards of any Hne of 

 railway, and the value of this property therefore need not be 

 taken into consideration. 



Farmers, therefore, in order to get the full benefit of a policy 

 of insurance as regards agricultural produce against risk of fire 

 throughout the year, must insure for not less than three- fourths 

 of the full value of the agricultural produce, immediately 

 after harvest, which may be assumed to be the period when 

 the property on the farm is at its maximum value. The point 

 to be borne in mind is that if, on the occurrence of a fire, the 

 valuer appointed by the company estimates the value of the 

 whole of the property insured under the heading of " agricultural 

 produce " at a sum exceeding by one-fourth the sum insured, 

 then the company will probably dispute its liability to pay the 

 full amount of the loss, even though it be less than the amount 

 insured, but only offer a rateable proportion. 



If any property insured is declared to be " subject to average," 

 and it does not fall within the special condition above explained, 

 the insurer in order to protect himself fully must insure for the 

 full value of the property in question. 



Rates of Insurance on Agricultural Produce. — The insurance 

 of agricultural produce (including growing crops, implements, 

 &c., which are allowed to be insured in one amount), is usually 

 undertaken subject to the special condition of average at a 

 charge of 7s. 6d. per cent, in England and Wales, and los per 

 cent, in Scotland. 



Proximity to a Railway, — Some companies require agri- 

 cultural produce, including growing crops, within fifty or 100 

 yards of a railway line to be separately insured at a higher rate. 



Wool. — Wool is included with other agricultural produce, but 

 it may also be insured separately for a year or for any shorter 

 period, usually at a rate of 3s. per cent, subject to the above 

 stated special condition of average. 



Hops. — Hops not undergoing any process of drying are in- 

 cluded in the item agricultural produce, but hops in farm 

 buildings (excluding hop oasts and stowages communicating 

 therewith for any time during which fires are alight in the fur- 

 naces appertaining thereto) may also be insured for any period 

 not exceeding three months at a rate of usually about 2s. 6d. 



