City officials have learned fire insurance protection rating for the City of New Albany has been lowered from a Class-6 to a Class-5. A new fire insurance rating for the City of New Albany should mean savings on insurance costs for homeowners and businesses. A city’s fire rating is one of several elements used in determining residential and commercial property insurance rates.
The new rating follows a recent inspection of the New Albany Fire Department by the Mississippi State Rating Bureau. The inspection took three full days to complete. The bureau assigns all Mississippi fire departments a rating. They range from first class, which is the best, to 10th class, which is the worst. Ratings are based on fire staffing and equipment, water supply and hydrant distribution, building codes and E-911 communication ability. Due to improvements in the city water system, the addition of a new well and supply tank, hydrant flows increased in some areas which significantly helped in the overall score of the water system.
“With the news of a lower rating and the accompanying report, the fire department is already planning a course for the next visit from the rating bureau. We have identified some key areas where we can make gains in points in an effort to achieve an even lower rate class for the citizens and property owners of the city,” Fire Chief Steve Coker says.
Generally, the lower a community’s fire rating, the lower the insurance premiums will be for homes and businesses in that protection district. Commercial properties typically see the biggest savings when a rating improves.
Other Mississippi cities with Class-5 ratings include Laurel, Pearl, Brandon, Bay St. Louis, Waveland, Richland, Senatobia and Cleveland.