|
The City of Cape Coral has been working to reduce the insurance rating of the city, which would produce lower insurance costs for many homeowners. In July, the City of Cape Coral was notified by the Insurance Service Office (ISO) that our efforts had been successful and our rating had improved.
Our city-wide “Public Protection Classification” rating is now a “3,” down from a previously split rating of “4/9.” The new rating becomes effective November 1, 2008.
What is the Public Protection Classification rating?
This Public Protection Classification Program establishes appropriate fire insurance premiums for residential and commercial properties. Insurance companies need reliable, up-to-date information about a community's fire-protection services. The Insurance Service Office provides that information through the Public Protection Classification program.
The Insurance Service Office collects information on municipal fire-protection efforts in communities throughout the United States. In each of those communities, ISO analyzes the relevant data using their Fire Suppression Rating Schedule. The ISO then will assign a Public Protection Classification rating of 1 to 10. Class 1 represents exemplary public protection, and Class 10 indicates that the area's fire-suppression program does not meet ISO's minimum criteria.
The program provides an objective national standard that helps fire departments in planning and budgeting for facilities, equipment and training. The program provides incentives and rewards for communities that choose to improve their firefighting services. One reward is lower fire insurance premiums for communities with better public protection.
The new single ISO rating classification of a “3” for the entire city has been attained due to several years of work by the Fire Department, Public Works, and Fire and Police Communications. Many new processes and innovations were initiated, such as new techniques for drawing water from canals for firefighting and new fire apparatus design.
Many homeowners may soon find some reduction in certain components of their homeowner’s insurance.
To download the notification letter from ISO, click here.
|