Good news for homeowners fire insurance rates
er benefits, typically in the 8-15 percent range.
The fire protection classification (PC) for Point Roberts has changed from a PC5 to a PC4, effective February 1, according to fire chief Christopher Carleton. The chief received notification from the Washington Surveying and Rating Bureau (WSRB) back in October, but the rating didn’t go into effect until now.
A change from PC5 to PC4 typically represents a meaningful improvement in fire protection rating, which generally translates to lower insurance premiums. While the exact savings vary by insurance company, location, and specific policy details, residential properties typically see a 5-10 percent reduction in the fire portion of their insurance premium while commercial properties can often see slightly larg-
However, a fire protection rating is just one of many factors that determine overall insurance premiums. The fire protection portion usually makes up about 40-50 percent of the total property insurance premium, so the actual total premium reduction would be smaller.
For a rough calculation, if a residential property owner pays $1,000 annually for property insurance, and 45 percent ($450) is attributed to fire protection, the owner might save between $22-45 per year with this improvement in rating.
Generally, there are four factors that are considered when protection classifications are determined:
Fire department (40 percent)
Station location
Equipment & apparatus
Staffing & training
Response capabilities
Water supply (40 percent)
Hydrants & mains
Flow capacity
System reliability
Storage capacity
Dispatch (10 percent)
911 systems
Personnel & training
Communications tech
Risk reduction (10 percent)
Prevention programs
Code enforcement
Public education
Inspections
Homeowners should contact their insurance agent to let them know that the protection classification has improved.
Light refreshments will be served. For more information, please contact info@ pointrobertschamberofcommerce.com Let’s put our
The Point Roberts Chamber of Commerce is holding a business social and networking event on Tuesday, March 11 at 6 p.m. at the Pier Restaurant. Here’s an opportunity to share recent customer experiences with the intention of bringing together ideas and suggestions on how together we can improve the business climate.