Mutual Assurance Society Policies
(Richmond and Henrico Counties, 1796-1867)


This finding aid indexes policies issued by the Mutual Assurance Society between 1796-1867 for buildings in
Richmond and Henrico County. Individual policies (declarations) and revaluations are indexed. Policies include
the name of the insured, place of residence, location of the insured property (with references to contiguous pro-
perty), the name of the occupant of the property, a description and estimated value of each structure insured, and
and the date and signature of the insured. An appraiser's statement regarding the value of the property is also
included.

At the bottom of each policy appears a sketch of the insured property. In most instances the sketches are rough
outlines of the buildings as if viewed from above. The roofing material and distance from streets and from other
structures are also noted. Revaluations of assurance contain the same information as declarations and give the
prior declaration number.

The "Mutual Assurance Society, against Fire on Buildings, of the State of Virginia" was incorporated by the General
Assembly on December 22, 1794. The plan of the society was suggested by William Frederick Ast, a Prussian then
residing in Richmond, and it is alleged to have been modeled after a system of mutual guarantee introduced by
Frederick the Great.

Insurance offered by the society was against "all losses and damages occasioned accidentally by fire". Rates of
hazard were determined by the material composition of the buildings, by the uses to which the buildings were put,
and by what may be kept in them. Mill, playhouses, liveries, and buildings containing machinery propelled by steam
or in which combustible articles were stored could be insured only by a special contract. Revaluations of insured
property were required every seven years or whenever additions were made to the policy.

Until 1819, the society returned to policy holders the interest accummlated on its reserve fund in excess of the amount
deemed necessary to pay annual claims for losses and damages. When costs exceeded income, the society was
authorized to require members to pay "quotas", the amount depending on the sum insured and the rate of hazard.
Insured property was considered security and could be sold to obtain the quotas. Annual quotas were not regularly
required until 1809.

Up to the Civil War, the society was financially secure and prosperous. Although war risks were not taken by the society
by the society and any damage caused by the invasion was not covered by the assurance, the financial crisis caused
by inflation, currency depreciation, and the loss of investments with the fall of the Confederacy left the society "without a
dollar in money". However, the society's reserve fund, required by law, enabled it to recover rapidly from the effects of
the war.

An index to declarations, 1796-1867, prepared by the Virginia Historical Landmarks Commission is available on Misc.
Reels 776-780. The index is arranged by city and by county. There are also index divisions for plantation or estate
names and listings for taverns, hotels, and other public buildings. Additional Mutual Assurance Society records are
described in Entry 174 and 284 in "A Guide to the Business Records in the Virginia State Library and Archives"
(Richmond, 1994).

Arrangement is by name of the owner or occupant. Cards contain the policy number, date of policy, place where the
building is located, whether the individual is the owner or occupant and the volume number and microfilm reel where
the document can be located.

Stephens, C.
Policy No. 1078, vol. 55 (reel 6)
7 March 1818, City of Richmond, Occupant.

Stephens, Mrs. E. S.
Policy No. 16406, vol. 121 (reel 19)
7 May 1851, City of Richmond, Occupant.

Stevens, A. G.
Policy No. 13058, vol. 110 (reel 17)
31 Dec 1844. City of Richmond, Occupant.

Stevens, Martha
Policy No. 12587, vol. 108 (reel 17)
13 March 1844, City of Richmond, Occupant.

Stevens, Martha
Policy No. 15764, Vol. 119 (reel 19)
1851, City of Richmond, Occupant.

Stevens, S. S.
Policy No. 654-A, vol. 60 (reel 7)
24 Feb 1855, City of Richmond, Occupant.


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Compiled by:
Jackie Shepherd

Tom Stevens -E-Mail: stevetho@datastar.net