London and Its Environs Described, vol. 3 (of 6): Containing an Account of Whatever is Most Remarkable for Grandeur, Elegance, Curiosity or Use, in the City and in the Country Twenty Miles Round ItAnonymous
History
London and Its Environs Described, vol. 3 (of 6): Containing an Account of Whatever is Most Remarkable for Grandeur, Elegance, Curiosity or Use, in the City and in the Country Twenty Miles Round It
Anonymous
London (England) -- Description and travel -- Early works to 1800; London (England) -- Gazetteers -- Early works to 1800
The conditions of insurance are, two shillings _per cent._ premium,
and ten shillings _per cent._ deposit on brick houses, and double
those sums on timber houses in the cities of London and Westminster,
and within five computed miles from the same, to be paid on insuring
for a term not exceeding seven years.
Houses in the country, beyond five, and so far as twenty computed
miles from the said cities are to pay an additional premium of one
shilling _per cent._ on brick, and double on timber; and beyond twenty
so far as thirty computed miles from the said cities, being the limits
of insurance by this office, an additional premium of two shillings
_per cent._ on brick, and double on timber, the deposit being the same
in all places. Houses with party-walls of brick or stone are to be
accounted brick, and those which have not such party-walls to be
accounted timber houses. Thatched are not to be insured.
Any number of contiguous houses, not exceeding the value of three
hundred pounds, may be insured in one policy.
No more than two thousand pounds can be insured on one house in a
policy: but halls, hospitals, and other large buildings, divided by
brick or stone partitions, may each be insured in several policies.
At the expiration of policies, or whatever time the property in their
houses ceases, all persons may on application to the office, receive
the deposit, together with the dividends of profit made every year
from the premium and interest of money, after the charges of the
office are paid, deducting their proportion of contributions towards
losses, during the time they have been insured.
Hence it plainly appears, that the whole money paid on insuring, both
premium and deposit, is in effect only deposited, to make good losses
by fire and the charges of the office; it being all returned, except
what is applied to those purposes.
Contributions are laid when fires happen, and dividends made every
year by the Directors, which are registered in tables hung up in the
office, to be perused by the members.
All the members or persons insured, have the liberty of examining all
the books and papers of the office, at seasonable hours, gratis.
No person insured is obliged to pay above ten shillings _per cent._
Contribution for brick, and double for timber houses, more than the
money first deposited. This being now upwards of 80,000_l._ valuing
the public securities at _Par_, must all be exhausted by losses
happening almost together, before any call can be made from the
members.
Public-domain text, read in full here on John Shaqi.
Reviews
Reviews
No reviews yet
Be the first to share your thoughts on this work.
Elsewhere in the archive
Join the Discussion
Join the discussion
Sign in to leave a comment or review.
Sign InorCreate an account