Louisiana's insurance commissioner said some homeowners in East Baton Rouge Parish should see a drop in their fire insurance premiums.
Commissioner of Insurance Jim Donelon said residents in Brownsfield Fire District 3 can expect significant rate reductions effective Feb. 6.
He credited the drop in premiums cost to the fire district improving it fire protection rating from Class 4 to Class 3.
"The amount of the premium rate reduction will vary, depending on the value of the property, the fire district where the property is located and the rate schedule of the company insuring the property," said Donelon.
For example, fire insurance for a home valued at $150,000 was costing residents in Brownsfield Fire District 3 about $1,346 a year. That cost is likely to drop to about $1,229 under the new grading, saving homeowners about $117 in annual premiums.?
Donelon added those in Brownsfield Fire District 3 should contact their insurance agent if they don't see a rate change for their fire insurance premiums in their next renewal notice.
Copyright 2012 WAFB. All rights reserved.
Source: http://www.wafb.com/story/16579370/some-residents-can-expect-drop-in-fire-insurance-rates
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