Insurance Commissioner Jim Donelon says the New Orleans Fire Department has achieved Public Protection Classification 1 status for the first time the department's history.
A variety of factors are considered in determining a district’s grading. The number of dispatchers on duty, the number of firefighters and fire trucks, training and equipment, and the availability of water all affect a district’s grading.
As a result, homeowners can expect a reduction in home insurance premiums by 2.2%. According to Donelon's press release that will result in a $53 a year savings for home valued at $150-thousand dollars.
The amount of the premium rate reduction will vary, depending on the value of the property, where the property is located and the rate schedule of the company insuring the property.
"Improved fire protection ratings are a testament to the hard work of fire departments and community leaders," Donelon said. "We all reap the benefits in the form of improved safety, peace of mind, and lower premiums for fire insurance due to decreased risk."