Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1913-10-11

tober 4. 1t was further pointed out
that largely because of the efficiency
and proved excellence of the Newark
fire department this city had been
entered, exclusively, in class A. This
was "A tribute to Newark's recognized
progress along important lines, and
| means the saving of countless thou
sands of dollars to Newarkers. /
Pursuing inquiries, the Star finds
that reductions in rates have gone
| into effect since October 4. Here is
a case in point: A citizen who car
ried a line of So, 900 on his house, a
| three-year term policy, had been pay
! ing a premium of $25 for years, had
his policy handed him renewed a few
| days ago, the same amount, $4,000;
| same term, three years; same condi-
lions. The premium charged was SIG,
a clear reduction of 50.
| In fixing the rates, it was further
explained today, Newark is listed be-
cause of the superiority of its fire de-
| partment in class A. Cities like
| Trenton, Jersey CITY, Hoboken, Cam
| den and East Orange, whose fire pro-
lection is also ranked high, are placed
| in class B, while the smaller cities
are graded accordingly. Orange is
in class C. Glass cities will show
a slight decrease, but not as pro-
nounced as Newark.
In Newark, for instance, the rate
| for brick dwellings, shows a decrease
of four cents per hundred under last
| year, while in Orange there Is an in
| crease of one cent. In frame dwell
| ings Newark shows a decrease of 21a
cents, while Orange, on the same
class of buildings, shows an increase
of two cents. On contents or house
hold furniture the decrease in the
y l.
dwellings and one cent for frame
dwellings, while brick dwellings show
an increase of IL cents and frame
| dwellings an increase of three cents
in the city of Orange The stable
rates in each city show the same
marked decreases in Newark and in
crease in Orange.
Cities whose fire departments are
not as fully equipped as that of
| Orange, which Is in class c, will
naturally pay a much higher premium
under the new law. The law, when
| it has a chance to work itself out,
will undoubtedly be of great benefit
| to the people of New Jersey, it is
! claimed, as it will tend to prevent
| questionable companies from doing
| business in the State, and places
! everything under the direct supervi-
sion of the State department Of bank
ing and insurance.
/ Must File Schedule.
All companies are obliged to file
with the State commissioner of
| banking and insurance a complete
schedule of all classes of business in
| accordance with the new law, which
will tend to eradicate the unscrupu-
| lous broker.
The law is intended to prevent dis
/ Grim in ffnn mao
| tise in the past for companies, COM
| monty known as board companies, to
| have different rates for the same
| class of risks in the same zone. A
| large manufacturing plant in New
| ark might take in some cases a
| greater rate than the same class of
! building would take IN the Oranges,
| or Bloomfield, under the old law, but
under the Ramsey law this is i'm
| possible. The charges are all uni
| form as to the base rate, and the
| increases, as the schedule is COM
| piled, are made up for DEFICIENCIES in
| construction and inadequate fire and
water protection.
| The rates have been compiled by
! an expert of thirty years or more
experience in this class of business.
! Under the old law a man purchasing
a 81 900 policy for three years on his
household effects would have to pay
IS. When the Ramsey law goes into
effect on October 4 the same policy
| will cost him $40. a saving of thirty
cents on a small policy.
The following is a comparative ta-
BILE of the old and new rates in New
ark and Orange showing the relative
decreases and increases in dwellings,
for one year.
al