Cedar Park fire safety rating upgrade could mean lower premiums

Cedar Park fire safety rating upgrade could mean lower premiums

Thursday, 05 March 2009

Cedar Park residents will likely see a decrease of up to 8.5 percent on homeowner’s insurance premiums because of an upgrade to the city’s fire safety rating from the Insurance Services Office.

The Cedar Park Fire Department received an ISO Class 1 rating for fire protection, placing the CPFD in the top 0.1 percent of all fire departments throughout the United States, according to a city press release.

ISO, which supplies statistical, underwriting and actuarial information to insurers, completed its Public Protection Classification survey on Cedar Park in April 2008. This resulted in the overall fire safety rating being upgraded to from a Class 3 to a Class 1, the highest possible rating, according to the release.

The city is encouraging residents to call their insurance agents to make sure they are aware of this rating change, which should begin Aug. 1, according to the release. There are only 55 Class 1 cities among 46,000 graded communities across the nation, according to an ISO newsletter written in 2007.