INSURANCE is a guarantee of protection against loss by fire, tempests, disease, death or other calamity common to all men, by individuals or corporations possessing large amounts of money, upon payment, by the insured, of a stipulated sum at set times agreed upon between the insurer and insured.

Insurance is classed under the heads of fire, marine, accident and life.

Fire insurance extends to stores, dwellings, barns, offices, out-buildings, manufactories and other structures, together with their contents. The more combustible the property is, or the more it is exposed to danger from neighboring buildings, etc., the greater the hazard and the larger the premium (a sum paid by the insured) will be.

Marine insurance includes the hulks, sails, rigging and fittings of vessels or steamers in port or at sea, and the cargoes which are carried by them.

Accident insurance covers the casualties to which travelers by land or sea are commonly exposed without undue carelessness on their part; and if loss of limb or health results therefrom, the insurer agrees to pay a stipulated sum to the insured, proportionate to the premium paid.

Life insurance extends to all persons in good health, and is founded upon the established death-rate among such persons at all ages from youth to elderly manhood. The premium is regulated by the age of the insured at the time when the insurance is applied for, the prospect of long life, and the amount for which the policy is issued.

An insurance broker is the agent of an insurance company to effect insurance with the people upon their property, and cannot change the restrictions of his company or the privileges allowed by it.

Insurance companies and agents are governed by the laws of the several States, so as to prevent frauds from being perpetrated upon the insured. The insurance companies are also protected by State laws against frauds by the persons insured. The policy is the contract given by the insurer to the insured. The following is the general form of an insurance policy :

Form Of Fire Insurance Policy

No. 102,567. Cash Capital $2,000,000. $5,000.00.

THE

SEWARD INSURANCE COMPANY,

OF HARTFORD, CONN.

Incorporated 1864.

Stock Policy

In Consideration of Seventy Dollars, do insure Harry J. Weitzel against loss or damage by fire, to the amount of Five Thousand Dollars; $3,000 on his two-story and basement brick dwelling house, situate No. 976 Ericcson street, Albany, N. Y.; $1,000 on his brick barn in rear of above dwelling: $1,000 on his household furniture, useful and ornamental, beds, bedding, linen, family wearing apparel, printed books and music, silver plate and plated ware, paintings, engravings, and their frames, at not exceeding their cost, piano, sewing-machine, fuel and family stores contained in above brick dwelling house and barn, for one year, to wit: from the twenty-third day of November, 1881, at 12 o'clock noon, to the twenty-third day of November, 1882, at 12 o'clock noon.

1. Warranty of the assured - The assured by the acceptance of this policy hereby warrants that any application, survey, plan, statement or description, connected with procuring this insurance, or contained in, or referred to in this policy, is true, and shall be a part of this policy; that the assured has not overvalued the property herein described, nor omitted to state to this company any information material to the risk; and this company shall not be bound under this policy by any act of, or statement to, or by any agent or other person, which is not contained in this policy or in any written paper above mentioned.

It is also a part of this warranty that if the policy shall be continued by renewal, it shall be considered as continued under the original representor tions; and that any change in the risk, not made known to this company at the time it is so continued, shall render this policy void.

2. Why this policy will become void - This policy shall become void, unless consent in writing is endorsed by the company hereon, in each of the following instances, viz.: If the assured is not the sole and unconditional owner of the property; or the building herein described stand on ground not owned in fee simple by the assured; or if the interest of the assured in the property, whether as owner, trustee, consignee, factor, agent, mortgagee, lessee, or otherwise, is not truly stated in this policy; or if any change take place in the title, interest, location or possession of the property (except in case of succession by reason of the death of the assured), whether by sale, transfer or conveyance, in whole or in part, or by legal process or by judicial decree, or the title or possession be now or hereafter become involved in litigation, or if this policy be assigned or transferred before a loss.

2. If the assured have or shall hereafter obtain any other policy or agreement for insurance, whether valid or not, on the property above mentioned, or any part thereof.

3. If the risk be increased by any change in the occupation of the building or premises herein described, or by the erection or occupation of adjacent buildings; or by any means whatever within the knowledge of the assured.

i. If any building herein described be or become vacant or unoccupied for the purposes indicated in this contract.

5. If the property herein described, being a manufacturing establishment, shall be run at night or overtime, or shall cease to be operated.

6. Or if any of the following-named articles be kept, stored or used in or on the premises herein described, any custom or usage of trade or manufacture to the contrary notwithstanding, viz.: benzine, benzole, benzine, varnish, burning fluid, chemical oils, fire-works, gasoline, gunpowder, naphtha, nitro-glycerine, nitrate of soda, oily waste, petroleum and products, phosphorus, rubber cement, saltpetre, spirit-gas, or any articles subject to legal restriction.

3. What this company is liable for - This company shall not be liable under this policy for loss or damage by fire in any of the following instances, viz.:

1. If caused directly or indirectly by means or in consequence of an invasion, insurrection, riot, civil war or commotion, or military power, or by order of any military or civil authority, or in consequence of any neglect or violation of any law or ordinance, or by the fraudulent act or procurement of the assured.

2. If caused by lightning or explosion of any kind, unless fire ensues, and then for the loss by fire only.

3. If the building herein described or any part thereof fall, except the fall is the result of fire.

4. If caused by neglect of the assured to use all practicable means to save and protect the property at and after the fire, or when the property is endangered by a fire in neighboring premises.

5. For loss of accounts, bills, notes, deeds, manuscripts, evidences of debt or securities of property of any kind; or for loss by theft at or after the Are.

6. For any consequential or constructive loss or damage, beyond the actual damage by Are to the property, whether such loss or damage be occasioned by any ordinance or law regulating the construction or repair of buildings or otherwise.

4. What Is not Insured - This insurance does not cover any of the following named articles or goods, unless separately and specifically mentioned in writing in the policy, viz.: Money or bullion, drawings, models, patterns, tools, implements, paintings, sculpture, medals, casts, curiosities, jewels, watches, scientific apparatus, store furniture and fixtures, awnings, signs, yard fixtures; nor goods held on storage.

5. General privileges - 1. Kerosene or refined petroleum oil of the legal standard may be used for lights only, lamps to be filled and trimmed by daylight and not within ten feet of artificial light.

2. Mechanics are allowed to make ordinary alterations and repairs to buildings not exceeding fifteen days in each year of this insurance, without notice to the company. Any extension of this privilege must be previously consented to in writing on this policy.

3. Plate-glass, frescoes and wall decorations are covered by insurance on the building; but if there shall be any other insurance on the building, this company shall be liable only for such proportion of the loss on said plate-glass, frescoes and decorations as the amount hereby insured shall bear to the whole insurance on the building, whether such other insurance applies to said glass, frescoes and decorations or not.

6. Cancellation of policy - 1. If any broker or other person than the assured have procured this policy, or any renewal thereof, or any endorsement thereon, he shall be deemed to be the agent of the assured, and not of this company, in any transaction relating to this insurance, including the delivering of this policy and payment of the premium.

2. This insurance may be terminated at any time by request of the assured, or by the company, on giving notice to that effect. On surrender of the policy, the company shall refund any premium that may have been paid, reserving the usual short rates in the first case, and pro rata rates in the other case.

Agreement as to loss - The amount of sound value and of damage to the property may be determined by mutual agreement between the company and the assured; or failing to agree, the same shall then, at the written request of either party, be ascertained by an appraisal of each article of personal property, or by an estimate in detail of the building, by competent and impartial appraisers, one to be selected by each party, and the two so chosen shall first select an umpire to act with them in case of their disagreement; and, if the said appraisers fail to agree, they shall refer the differences to such umpire; and the award of any two, in writing, under oath, shall be binding and conclusive as to the amount of such loss or damage, but shall not decide as to the validity of the contract or any other question except the amount of such loss or damage. Each party shall pay their own appraiser and one-half the umpire's fee. It shall be optional with this company to take the whole or any part of the articles at their appraised value, and also to repair, rebuild or replace the property lost or damaged with other of like kind and quality within a reasonable time, giving notice of their intention so to do within thirty days after completion of the proofs herein required.

[Suggestions as to particular statement relative to property here omitted.]

Any fraud or attempt at fraud, or any misrepresentation in any statement touching the loss, or any false swearing on the part of the assured or his agent, in any examination or in the proofs of loss or otherwise, shall cause a forfeiture of all claim on this company under this policy; and in such case, this company shall have the right at any time to require the same to be delivered up to be canceled.

[What the Company is not liable for and other conditions are here omitted.]

In Witness Whereof the Seward Insurance Company on its part, has caused these presents to be signed by its President or Vice-President, and attested by its Secretary, in the city of Hartford. But this policy shall not be valid unless countersigned by Hiram Hankins, agent of said Seward Insurance Company, at Albany, N. Y.

Smith C Watkins, Secretary.

Henry K. Williams, President.

Hiram Hankins, Agent.