The Massachusetts spy. [volume] (Worcester [Mass.]) 1821-1823, 1823-03-12
FIRE INSURANCE.
NHE President and Directors

IL of the MERCHANTS Insurance Conf
PANY, in Boston, inform the Publck, that their
Capital Stock is Three Hundred thousand Dol
lars, is all paid in, and invested according to
law-that they continue to make Insurance
against Fire, as expressed in their Policies, for
sums not exceeding thirty thousand dollars on
a risk
Proposals for Insurance may be made YER
bally, or in writing. No particular form is nee
essary to be observed; but the applicant should
give such a description OF the premises to be IN
sured, and such information as may be neces-
sary to enable the Company to make a Just
computation of the risk.
The circumstances that most generally affect
the risk, are the size and height of the build
ing the number of fires kept therein; the
materials of which the walls Of the buildings
are composed; how occupied whether con-
nected with other buildings, or separate /;
what other buildings are in the vicinity, so
near as to increase the risk, and what the IA
cility with which engines, ladders, and water
may be obtained in case Of fire.
Some OF these facts may be best commune
Gated by plan, which may be easily sIetched
from memory, by any person acquainted with
the premises, with sufficient accuracy to give
an idea Of the relative size, situation and con-
nexion of the buildings.
Where Insurance is wanted on several build
inss, it is necessary to state how much is want
ed on each.
The Company insure any sum on building,
or property, not exceeding the full value Of the
destructable interest at hazard. They prefer,
however, to insure something less than the full
value.
Insurance may be II .. on any kind of prop
erty for account of the o gner, and the policy
assigned to any other person, as collateral Sc
curity, with the Company's consent; or the loss
may be made payable TO any other person,
when the policy is made.
Contingent interests may be insured, being
described as such as property mortgaged, or
on which advances have been made, or respon-
sibilities Observation-Disclosures and Household
Goods, a: well as Buildings and Merchandise.
may be insured. The Premium ispaid in cash,
on receipt of the Policy. The Loss is paid in
cash, in thirty days after proof.
The proof required is such as shall be rea-
sonable, according to the nature and circum-
stances Of the case and if the parties cannot
agree as to what is reasonable proof it is to be
submitted to reference, or determined by law
as the person insured shall prefer.
In Fire Insurance the Company pay all losses,
however small, and they pay the whole loss,
provided it do not exceed the sum insured,
whether the property be fully insured or not
The expense of Insurance on the safest elias.
of brick buildings IN Boston, is 25 cents to in
sure 500 for year, or 81: 80 per annum Il
insure 1000.
On the safest class Of wooden buildings, such
as Dwelling Houses standing alone, occupied
by one family, and not liable to be burned by
any other building, the Premium is haLfpe
cc,t. per Gnnlm.
On the class of brick buildings above men
toned, it requires the Premiums OF four hun
dfed years to pay a loss. On the class of wood
en- buildings, it requires the Premiums of two
hundred gears and this is on the superstition
that there will be no partial losses during the
time; but considerable portion of the Pre-
miums will be required to pay partial losses.
II appears evident, therefore, that the Pre-
miums demanded ON these risks arc very mod
crate.
For risks of more hazardous nature, the
Premium is increased in proportion TO the aug
inentaton Of the hazard
The conditions on which this Company in
| sure, are believed to be as favourable and con-
venient to the assured, as they can be made.
| consistently with due regard to the interests
| and security Of the Institution.
| The Company continue to make Insurance
on Marine Risks as heretofore, for SUMS not ex-
ceeding thirty housand dollars ON risk.
| Further particulars may be known ON appli-
cation at the Office Of the Company, No. 745,
State-Street, corner Of State-Street and Elk.
change-street--or to JOHN DAVIS, Esq. at
his Office, in Worcester.
Letters directed to the Company, or to Mr..
DAVIS, containing proposals for Insurance, win
receive immediate attention. Per order,
| MOSES L. HALE, Scc'ry.
4 Egbruoru 10 foOQ