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REAL ESTATE
I
AND
(Copyright, 1917, by The Record and Guide Co.)
NEW YORK, FEBRUARY 9, 1918
REVISES PUBLIC LIABILITY RATES FOR OWNERS',
LANDLORDS' AND TENANTS' RISKS
New System Divides City Into Four Territories
DN January 26, a new schedule of
rating Owners', Landlords' and Ten-
ints' Public Liability went into force.
Vpartment and tenement houses in
Manhattan have been divided into four
lasses, designated as follows: Class A,
louses with elevator, but without stores;
Ilass B, houses with elevator, with
tore; Class C, non-elevator houses,
vithout stores, and Class D, elevator
louses, with store. Manhattan Island
las been subdivided into four territor-
es. as follows :
Territory No. 1: Bowery from East
th street to Third avenue, to East 96th
treet, to Fifth avenue, to 110th street,
o Manhattan avenue, to Columbus ave-
me, to West 127th street, to St. Nicho-
of 120th street and Seventh avenue,
from 110th to 120th streets. The follow¬
ing are the ne\/ rates:
Area.....
Frontage.
Class
A.
,05
.05
Class
B.
.10
.075
Class
C.
.15
.125
Class
D.
.175
.15
Territory No. 3: Hudson River from
Battery to West Houston street. West
Houston street from Hudson River to
Broadway, Broadway to East 4th street
to Bowery to Chatham Square to Oliver
street to East River to Battery. In¬
cludes both sides of West Houston
street, East 4th street and Oliver street.
Excludes both sides of Bowery and
Broadway.
Third avenue from East 14th street to
East 23rd street to East River to East
and frontage .08, with minimum annual
premium per building of $10.
The rates and minimum premiums
provided in the foregoing are in addi¬
tion to the elevator premium, if any.
Under the old system, Manhattan
Island was divided into three sections,
one being that district lying to the
East of Broadway, as far north as 42nd
street, the second being the entire West
Side and the third, on the East Side
north from 42nd street to the Harlem
River. Under the old system the first
district had a minimum charge of $50,
the second $20 and the third $40, while
under the ruling just put in force the
minimum of $15 will maintain through¬
out the entire Borough. This minimum
is so small, however, that it will apply
P
ast avenue, to St. Nicholas Place, to
West 155th street, to the Harlem River,
to the line of the Spuyten Duyvil Creek
atid Harlem Ship Canal, to the Hudson
River to West 70th street, to Broadway,
to Seventh avenue, to Greenwich ave¬
nue, to Sixth avenue, to West 4th street,
to Bowery. Th'^ territory excludes both
sides of all avenues and streets men¬
tioned, except Broadway, where both
sides are included. The following are
the rates for this territory.
NEW SYSTEM ADOPTED DIVIDING CITY INTO FOUR TERRITORIES. WITH FOUR
RATES FOR EACH TERRITORY.
Mth Street to Third avenue. Includes only to a few special instances, where
both sides of Third avenue and East
23rd street. Excludes both sides of 14th
street.
West 48th street, from Hudson River
to Bowery to West 70th street to Hud¬
son River to West 48th street. Includes
both sides of 70th street. Excludes both
sides of 48th street and Broadway,
East 96th street, from East River to
Fifth street to 110th street to Seventh
avenue to 120th street to East River to
Class
A.
Area........05
Frontage. .. .05
Class
B.
,075
.075
Class
C.
.10
.10
Class
D.
.15
.10
Territory No, 2: West Houston
street, from Hudson River to Broadway,
to_4th street, to Sixth avenue, to Green¬
wich avenue, to Seventh avenue, to
Broadway, to West 48th street, to Hud¬
son River, to West Houston street, in-
:luding both sides of Broadway, be¬
tween West Houston street and West
kh street, both sides of 4th street. Sixth
ivenue. Greenwich avenue. Seventh ave¬
nue and West 48th street.
Third avenue, from East 23rd street to
East 96th street to East River to East
I3vd street to 3rd avenue. Includes
both sides of Third avenue, and excludes
Doth sides of 23rd street and 96th street.
West 110th street, from Seventh ave¬
nue to Manhattan avenue, to Columbus
ivenue to West 127th street to St. Nich¬
olas avenue to St. Nicholas Place to
West 155th street to Harlem River to
I20th street to Seventh avenue to West
[10th street. Includes both sides of
llOth street. Manhattan avenue. Colum-
i)us avenue. West 127th street, St. Nich¬
olas avenue, St. Nicholas Place and
West 155th street. Excludes both sides
small lots are covered with buildings
having few occupants and the least haz¬
ardous class of risk.
Samuel Deutschberger, Superintendent
of the State Insurance Department said
yesterday: "In making the new rates
for Owners', Landlords' and Tenants'
Public Liability, we have tried to over¬
come some of the hardships which ex¬
isted under the old system. For exam-
^. , -------------- -- pie, the Lower East Side of Manhattan
y&th street. Includes both sides of all is the worst section to handle, and com-
avenues and streets mentioned. -----"
Class Class Class Class
A. B. C. D.
Area........075 .15 .30 .375
Frontage... .075 .125 .20 .25
Territory No. 4: East River from
Oliver street to East 14th street to Third
avenue to Bowery to Chatham Square
to Oliver street to East River. Includes
both sides of all avenues and streets
mentioned, excepting Oliver street,
where both sides are excluded.
Class Class Class Class
A. B. C. D.
Area........15 .30 .70 1.00
Frontage. . . .10 .15 .30 .50
In all the foregoing territories the
minimum annual premium per building
is $15.
Territory No. 5 includes the entire
Borough of the Bronx. The area is .11
and the frontage .11. The minimum
annual premium, per building is $15.
Territory No. 6 constitutes the Bor¬
ough of Brooklyn, area .11 and the
frontage .11, with minimum annual pre¬
mium per building of $15.
Territory No. 7 is Queens, area .11
and frontage .11. Minimum annual pre¬
mium is $15 per building.
Territory No. 8 is Richmond, area .08
panics were unwilling to handle any
large volume of business in this section.
Rates had to be justified, the result be¬
ing that other sections of the city had
to contribute their share toward the
losses in the Lower East Side.
"The new rates fix it so that each class
of property in their respective zones is
self-supporting. By that I mean prop¬
erty in the Lower East side pays its own
losses, and does not have to depend
upon the better sections for support.
Through this means it is possible to
make a lower rate for the better sec¬
tions, though the more hazardous dis¬
tricts will have to pay their own way.
"The rates are based upon actual ex¬
perience of all companies for the year
1913, and have been arrived at as the re¬
sult of the frankest cooperation between
the companies and this Department.
We feel that the rates are as fair to the
public as the conditions warrant. The
Department is quite hopeful that the
rates will solve, for the general insur¬
ing public and the insurance companies,
the problem created by the difficult con¬
ditions existing in comparatively re¬
stricted sections of Manhattan.
The question of rerating risks was the
RKCOItD AND GVIDES IS IN ITS FIFTIETH YEAR OF CONTINUOUS PUBLICATION.