The Massachusetts spy. [volume] (Worcester [Mass.]) 1821-1823, 1821-10-24
Fire Insurance.
THE PRESIDENT and Dr..

ME PRESIDENT and DR..
- REcToRs of the MERCHANTS INSIJ.
RANCE COMPANY hereby give notice, that
their Capital Stock is S 100000, and is invest
cd IN the manner prescribed in their Act of In
cofporation:-Ihatt they receive proposals and
make Insurance at their Office, in State-street.
on the corner of Exchange-street, to an amount
not exceeding S 10000 on risk, on Dwelling-
t1o'ses, Stores and other Buildings on Furns-
ture, Iuerchand'se, pesSels, Caggoes, and other
properly exposed TO loss By Fire. Buildings
mortsaged as collateral security may be insur-
cd, making the loss payable to the mortgaser
OF mortgasee, as may be agreed by the parties
Goods pledged or hypothecated, property he
IN trust, goods consi gned for sale whereon a
vances have been made or responsibilities ;r-
CURED, and any contingent or qualified inter.
ests in property or buildings, may be insure
for the ultimate benefit of the real party in IN.
terest, making the loss payable to the owner
or others, as may be agreed Insurance NAV
be made for any term of time agreed on. No
particular form is necessary in making proposals
Tor insurance; but when the premises are not
known at the office, it is useful to accompany
the proposal with plan of the buildings to be
insured, and OF such other buildings as materi-
any affect the risk upon it. 1t is not necessa-
ry that the plan should be graduated with
mathematical precision such as NAV be drawn
from memory is generally sufficient.
Insurance may be made on specifck articles.
or on property generally described, as Stock in
Trade, Furniture, Machinery, Tools. &c. and
may be valued or not. In case of loss by fire.
the Company pay all losses; however small. and
90 not make an average of the loss, as IN ma
r'ne insurance, but pay the whole amount
proved to have been sustained, not exceeding
the sum insured. Under this arrangement the
company do not participate in the salvage mn
til after the whole amount of property min
sured has been saved for the owner. No sne-
click kind of evidence is required to prove a
loss, but it is expected that reasonable nroof
according to the nature of the case will he Dro.
duced. BY their policies the Company eneae.
es to refer to arbitIators, when the parties can.
not agree, and when this is not satisfactory. the
Claimant has his legal remedy and NAV attach
property, if that should be thought necessary.
The safest class of Brick Buildings in Boston
are insured at one quarter per cent. per a,,n,t,n
and the safest class of Wooden BUILDINGS.
standing alone, and not liable to be burned bv
any other, are insured at one half per cent. per
amman. Buildings occupied for harzardous
purposes or connected with other buildings so
as to be liable TO be burned by them. are
charged with proportionably higher premiums.
The policies of this Company do not contain
any list of hazardous trades or articles which
shall render thecontract void but a true rem
resentation being made, the premium is pradu-
ated according to the risk.
The premium is paid on receipt of the Poll.
cy, and the loss is payable in thirty DAYS after
proof. Both are payable in Boston money. or
ITS equivalent. On the safest class of BUILDINGS.
it will be perceived, that it requires four hun
dred years premium on any given sum insured.
to pay total loss. and the changes of partial
loss may be computed at nearly half the risk
OF total loss. This also, as well as the expense
consequent on the conducting of the business
together with reasonable allowance for the
hazard of losing the capital of $780, 600, are
all to be covered by the premium. 1t is pre-
sumed, therefore, that it would be for the IN
terest OF the owners Of property to be insured.
II, on fair calculation, such a building would
De burned ottener than once in sag or sere4, ce,,
tur1eS, especially if the relief from anxiety
and other incidental advantages resulting from
being insured be taken into the account.
They also give notice, that they cont;nue
to make Insurance on Marine risks. against
the usual peris, as expressed in their policies
on any direct or qualified interest in Sims
Cargoes, or Freights-the nature of the infer,
estto be insured being made known-for anv
voyage or term OF time.
Per order,
MOSES L. HALE, See'rn