New rating means Rock Hill fire insurance rates will be lowest

Homeowners in Rock Hill can expect to see their fire insurance premiums go down now that the city’s fire department has the highest possible rating from a national insurance office.

The Rock Hill Fire Department announced Tuesday it has received a Class 1 ranking from the Insurance Services Office, which ranks fire protection services across the nation. Rock Hill’s department jumped up from a Class 3 department in the latest ISO evaluation, which is reviewed every three years.

The change should mean lower premiums paid by residents and businesses inside the city, once the new rating takes effect in February.

Insurance companies “will have to offer them the lowest premiums available,” Fire Chief Mike Blackmon said.

Only 12 other fire departments in South Carolina have a Class 1 ranking, Blackmon said, and of almost 49,000 fire departments rated across the United States, only 132 receive ISO’s highest rating.

“This is a testament to the skill and dedication of our firefighters,” Mayor Doug Echols said. “Once again, our community is helping to lead the way.”

Rock Hill insurance agent David Angel, owner of The Angel Agency, said policy holders will want to check what savings they can gain now that they live in an area with a higher rating.

“I would encourage everyone to contact their agent and say, ‘I need a re-rate on my insurance,’ ” he said. “People will be ecstatic about this.”

When the Lesslie fire district had a much larger jump in its ISO rating a few years ago, Angel said, some customers were able to cut their rates by a third, saving hundreds of dollars.

An improvement from Class 3, already a highly safe rating, might not result in savings that great. Agents contacted by The Herald had a hard time determining an average premium decrease for customers, since individual factors – such as credit history and previous claims – can play into the size of a premium. Individual policies run by Angel’s agency came back with a savings between $15 and $50.

Business policies could see higher savings than those for households, if only because their coverage is usually more expansive.

Blackmon praised other city departments in announcing the new rating. Only 50 percent of a community’s rating is based on the fire department’s capability to suppress a fire.

Forty percent depends on whether an “adequate water supply” is available, so the city’s water system also played a role in improving the city’s rating. Another 10 percent is based on the emergency communications system, and “risk reduction” through code enforcement and public education can add an extra 5.5 points to a department’s score.

Out of a maximum score of 105.5 points, Rock Hill earned 94.07.

This story was originally published December 15, 2015 at 11:15 AM with the headline "New rating means Rock Hill fire insurance rates will be lowest."