(WAFB) - Commissioner of Insurance Jim Donelon says Iberville Parish homeowners in Plaquemine, and West Feliciana Parish homeowners in Fire District 1, can expect significant rate reductions in their fire insurance premiums, effective January 11, 2016.
Donelon recognized firefighters and local officials in Plaquemine for the improvement of their fire protection grading from Class 3 to Class 2. He also recognized firefighters and local officials in Fire District 1 for the improvement of their fire protection grading from Class 5 to Class 4.
"I applaud the efforts of the community and officials that brought about this improved fire protection grading," Donelon said. "The lower grading means homeowners will not only see lower premiums for fire insurance, but will also have the peace of mind that comes with knowing their homes and families are better protected from fire."
Fire insurance for a home valued at $150,000 was costing residents in Plaquemine about $1,167 a year. That cost is likely to drop to about $1,141 under the new grading, saving homeowners about $26 in annual premiums.
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.