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Monterey rate reduction effective next month
Commissioner of Insurance Jim Donelon says Concordia Parish homeowners in the Monterey Fire Protection District (FPD), including the Monterey, Eva and Delhoste areas, can expect significant rate reductions in their fire insurance premiums, effective February 6, 2012.
Donelon commended firefighters and local officials in Monterey FPT for the improvement of their fire protection grading from Class 7 to Class 5. This improvement will bring about insurance rate reductions for many policyholders.
"Your efforts to make your property safer have brought about the lowering of your fire protection grading, which results in lower insurance rates on your homes and other property," Donelon said.
For example, Donelon said fire insurance for a home valued at $150,000 was costing residents in Monterey FPT about $1,316 a year. That cost is likely to drop to about $1,169 under the new grading, saving homeowners about $147 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," said Donelon.For the full story, subscribe to the The Concordia Sentinel's NEW E-Edition! |
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