New-York tribune., 1922-12-03
Autoists Told
How to Reduce
InsllranceRate
Slight but Permanent Drop
in Accidents in This City
Would Bring About a
Saving to Many Motorists
Companies Lose on Risks
Exercise of Greater Care ls
Urged Among Drivers to
Cut Record Charges Here

A way TO save millions In Insurance.
or.mlums is pointed out to the auto
mobile owners Of this city in com
mpniestion received BY the Safety In.
stitute OF America from the Nationai
Bureau Of Casualty and Surety Uacer-
writer's. In the first place, Il Is shown
thst the auto accident insurance rates
are higher In this city than anywhere
els, I'M the world. The method Tor re-
duetion Is given as . comparatively
Light but permanent reduction m the
automobile accident experience.
The statement from Ambrose Ryder
manager Of the Automobile Depart.
ment Of the National Bureau OF
Casualty and Surety Underwriters,
which Is addressed 70 Laurence van
Coleman, director Of the Safety lnsu-
tutO Of America, says IN part;
ain spite Of the high rates chargeo
for cars in New York City the com
panies as a whole have lost money
year after year. The automobile own
@rs Of New York City have IL within
their power 70 make their own aato,
mobile rates, as their rates are based
entirely on the experience Of the cars
In New York City. The rates have
been Increased in the past 10 meet the
constant increase In losses, and just
as soon as the experience improves the
rates will be decreased. This does not
mean that the insurance companies viii
change the rates each week. The acci-
dent record huctuAtes from week 70
week and month TO month. Nor do the
Ystea dsrsnd entirely on the number Of
accidents. IL is the losses that are
L.. "A ha
"The actual number Of deaths or ae-
cidents may be reduced, but an in
CREASE n the average amount Of loss
may Offset tho decrease IN the number
of accidenA AZ q general rule, how
ever, a eanpaign. that results in per-
mansnt reduction IN the number Of ae-
cidents should bring about also 9 re-
duetion In the amount Of losses to be
raid.
Needed Reduction Shown
"If the automobile owners Of New
York Cityf can bring about q 10 per
cent reductieR. In their losses for I'm
juries TO othSr people and TO other
peoples property, With correspond
ing 10 per cent reduction in rates, and
assuming that ell the automobile own
ors either carry insurance or set aside
an equivalent premium for their own
insurance funds, there would be saw
ing Of approximately 100000 year
in insurance premiums. A majority OF
the automobile owners Of New York
City do not carry the public liability
and property damage insurance COW
orage.)
"A. present the rates in New York
City arc very much higher than for
any other spot IN the whole world.
The average private passenger car car
ries rate Of approximately $ii0 for
personal injury liability and $50 for
liability on account of damage 10 other
people's property. The commercial car
or truck carries rates Of approximately
5000 and $50 respectively. Taxicabs
are rated at $500 and $3.50 respectively.
There are approximately 10000 pri-
vate passenger cars, $4,000 commercial
cars and $1,000 taxicabs and -busses IN
New York City.
"The private passenger car rate has
increased about 20 per cent in the last
six years, only 20 per cent Of the In
crease being made In the past four
years. The commercial car rates have
increased raore than 100 per cent in
the last six years, the increase being
about 30 per cent In the last four
years. The taxicab rates have been
increased about 80 per cent during
the last six years.
Big Opportunity Here
"Entihely aside, then, from any hu-
manitarian motives. there is big op-
1Qrtunity for the automobile owners
of New York City TO invest in a pay
ing proposition. They have, at any
rsfe tAe assurances Of the insurance
companies that the automobile rates
will be determined by the actual losses
on New York City cars.
This bureau Is very much inter
ested IN automobile accident preven-
tion. The bureau recently voted the
sum Of $4,000 to be spent In the
furthsrsneo Of broad, comprehensive
program OF automobile safety. II Is
not contemplated that this money shall