PROPOSALS. By the PRESIDENT and DIRECTORS OF THE Massachusetts Fire and Marine Insurance Company, No. 16, STATE-STREET, BOSTON, For insuring Houses, Stores, and other Buildings, Goods, Wares, Merchandize, and Household Furniture of all Kinds, on Land, against Fire.
Rates of annual Premiums for Insurance against Fire.
I.
HOUSES or Stores with brick or stone walls, and slate, tile, lead, copper, or composition roofs, standing separate from other buildings, 50 cents on 100 dollars.
II.
Houses or Stores with brick or stone walls, and slate, tile, lead, copper, or composition roofs, connected with other buildings, having brick partition walls of one or more feet above the roof, 55 cents.
III.
Houses or Stores with brick or stone walls and wooden roofs, that stand separate from, or connected with other buildings, with brick partition walls of one or more feet above the roof, 60 cents.
IV.
Houses or Stores with brick or stone walls and wooden roofs, connected with other buildings without brick partition walls, 65 cents.
V.
Houses or Stores of wood, or plaster walls, standing separate from other buildings, 70 cents.
VI.
Houses or Stores of wood, connected with other buildings, 80 cents.
Provided, the before-mentioned buildings are not occupied for any hazardous trade, or for storing any hazardous merchandize, as enumerated in the followng article.
VII.
All Buildings occupied, in whole or in part, by any person who shall use or exercise therein the trade of a carpenter, joiner, cooper, tavernkeeper or innholder, stable-keeper, baker, sugarboiler, ropemaker, boatbuilder, maltdrier, brewer, tallow-chandler, apothecary, chemist, oil and colour-man, china, glass, or earthern-ware-seller; or shall be used for storing or keeping of hemp, flax, tallow, pitch, tar, turpentine, rosin, unslacked lime, saltpetre, sulphur, gunpowder, spirits of turpentine, aqua fortis, spt. nitri fortis, oil of vitriol, hay, straw, fodder of any kind, corn unthreshed, oil, wax, or distilled spirits, from 100 to 150 cents, in proportion as the situation and quality of such buildings shall render them more or less hazardous, in the opinion of the Directors.
N. B. As circumstances may exist, which will either lessen, or increase the hazards, that come within the strict letter of the foregoing rates, the Company, in those cases, reserve the right to fix the premiums accordingly, or to refuse to make the insurance.
VIII.
Goods, wares, and merchandize, (except those before enumerated hazardous), and household furniture, not contained in buildings used for hazardous occupations, from 70 to 100 cents, according to the rate of the buildings in which they are contained, for sums not exceeding 5000 dollars, with an increased premium upon all larger sums.
IX.
Merchandize deemed hazardous, contained in buildings used for hazardous occupations, or otherwise, from 100 to 150 cents.
CONDITIONS.
I.
PERSONS applying for insurance on houses, stores, or other buildings, shall lodge in the office a written declaration, particularizing the town and street, where such buildings are situated, of what materials composed, their dimensions, relative situation, estimated value, and the purposes for which the same are occupied.
II.
Persons applying for insurance on goods, wares, or merchandize, shall lodge in the office, either an inventory of each article, with the value thereof, or a description in general terms, as dry goods, hard ware, West-India goods, groceries, &c. with the estimated value of the several species, the kind of buildings, and the apartments in which they are contained.
III.
Household furniture offered for insurance, shall be accompanied either with a particular inventory of each article, and its value, or in general terms, as beds, bed-clothes, linen, mahogany and other wooden furniture, looking-glasses, plate, wearing apparel, kitchen furniture, &c.
IV.
Bills of exchange, bonds, securities, title deeds, books of accounts, manuscripts, jewels, pictures, ready money, bank and other promissory notes, are not included under any insurance.
V.
All property offered for insurance, must be estimated at its just value, three fourths of which only, can be insured by the act of incorporation.
VI.
No policy will be executed, or hazard commence, until the premium is paid at the office in money.
VII.
Goods in trust, or on commission, must be declared to be so held, otherwise the policy will not cover such property.
VIII.
All persons insuring their property at this office, must give notice of any other insurance that is, or shall be made by them, or in their behalf, on said property, otherwise the policy will be void.
IX.
Insurance will be made on property held by mortgage, lease for years, or life, in remainder, or reversion, provided the nature of the tenure be previously specified.
X.
No insurance shall be made for a less term than one year; and any person choosing to be insured for seven years, shall be allowed the amount of one year's premium, by way of discount, and for four years, half a year's discount.
XI.
No insurance on goods, wares, merchandize, or furniture, will be valid, if the same are removed from the building in which they were insured, unless previous notice of such removal be given at the office, and allowed of, by endorsement on the policy.
XII.
The company will not be accountable for, or pay any loss, or damage, caused by foreign invasion, civil commotion, or any military or usurped force whatever.
XIII.
All persons insured at this office, sustaining loss or damage by fire, either in buildings, or other property, shall give immediate notice thereof, in writing to the Company, and deliver into the office within thirty days, as particular an account of such loss or damage, as the nature of the case will admit, and the full amount thereof, not exceeding the sum insured, shall be paid in thirty days after proof, without deduction, provided the same shall amount to three per cent. on the sum insured.
XIV.
The Company have the right to rebuild, or repair the houses or buildings damaged, or destroyed by fire, in lieu of paying the loss in money; provided the same be begun within thirty days after proof of the loss, and be finished without any unreasonable delay. They also have the right to furnish the insured, in case of loss on goods, or household furniture, with the like quantity, of the same sort and kind, and of equal value and goodness, with those burnt or destroyed by fire, provided the same be done within thirty days after proof thereof.
XV.
In case of a partial loss on goods, the Company shall have the right to take to themselves the goods thus injured, and pay the whole value in money.
XVI.
No policy shall be binding on the Company if assigned, unless such assignment be allowed by an entry thereof, in the books of the Company.
N. B. The Company will receive proposals for insurance, from any of the citizens of Massachusetts, New-Hampshire, Rhode-Island, and Connecticut.
BOSTON, the second day of September, One thousand seven hundred and ninety-five.