Officials: Concord’s improved fire rating to reduce insurance premiums for property owners
Concord has received an upgraded fire suppression rating – a change that city officials say will reduce insurance premiums for Concord property owners.
The Insurance Services Office, which provides advisory services to insurance companies, re-assessed Concord’s rating.
The rating shows an improved ability to put out fires and access water supplies. The city is now in the top 2 percent of more than 47,000 areas surveyed by the company, Concord fire Chief Dan Andrus told the city council Monday night.
“While the impact on insurance premiums is difficult to quantify, one insurer has advised me that the move from the class 9 to an 8b for our rural areas will mean a 5 percent reduction for their policy holders,” Andrus said.
Andrus called the new ratings a “remarkable moment in our history.”