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Request/Apply for a Lower Rate of Premium

Goods in Transit Shed

This document can be used as a template for applying for a lower insurance rate of premium of the goods in transit shed. It sets out the detail of the shed and the reasons why the current insurance rate of premium is too high. 

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Review Document

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Document Description

The document titled 'Request/Apply for a Lower Rate of Premium' is a formal letter written to request a review and reduction of the rate of premium charged under a fire policy for goods in a transit shed. The letter is addressed to the recipient's insurance company and highlights the importance of considering certain conditions that may have been overlooked when the current rate of premium was fixed.


The letter begins with the account holder's personal information, including their first name, last name, job title, and company. The current date is also mentioned. The purpose of the letter is to request a review of the rate of premium charged for the fire policy.


The account holder explains that the transit shed, which is also used as a bonded store and storage warehouse, has certain conditions that should be taken into account when determining the rate of premium. These conditions include:


1. The shed is not artificially heated.

2. No power of any kind is used.

3. All rooms are provided with automatic sprinklers, fireproof doors, and fire extinguishers of the latest type.

4. A water main runs around the entire dockside and can be tapped at several points within easy distance of the shed.


The account holder believes that considering these conditions, the current rate of premium seems unreasonably high. They request the insurance company to reduce the rate to align it more closely with the extent of the risk insured under the policy.


The letter concludes with the account holder expressing their anticipation of a prompt response from the insurance company.


Overall, this document serves as a formal request to review and lower the rate of premium charged for a fire policy based on specific conditions related to the transit shed's safety measures and risk factors.

How to use this document?

Guidance for using the document:


1. Provide personal and company information: Fill in the account holder's first name, last name, job title, and company in the designated fields at the beginning of the document. Ensure accuracy and completeness.

2. Specify the current date: Replace 'current date' with the actual date when the letter is being written.

3. Address the recipient: Address the letter to the appropriate person or department at the insurance company. Use 'Dear Sir/Madam' if the specific recipient is unknown.

4. Mention the policy number: Replace 'number' with the actual policy number related to the fire policy for goods in the transit shed.

5. Explain the purpose of the letter: Customize the content to reflect the specific reasons for requesting a review and reduction of the rate of premium. Provide a clear and concise explanation of the conditions that should be considered.

6. Emphasize relevant conditions: Expand on each condition mentioned in the document, highlighting their importance in determining the rate of premium. Provide specific details and examples.

7. Express the request for a rate reduction: Clearly state the desired outcome of the letter, which is to have the rate of premium reduced to align with the risk insured under the policy. Be polite and professional in the request.

8. Sign off the letter: Use 'Yours faithfully' or an appropriate closing phrase followed by the account holder's first name and last name.


Note: This document is a template and should be customized to fit the specific circumstances and requirements of the account holder's situation. Review the final document for accuracy and make any necessary adjustments before sending it to the insurance company.

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