Fire is the largest single cause of property loss in the United States. Virtually all U.S. insurers of homes and business property use ISO’s Public Protection Classification in calculating premiums. A number is assigned from 1 to 10. Class 10 indicates the area’s fire-suppression program does not meet ISOs minimum criteria. The rating depends on the communication, water supply, and the fire department, including equipment, staffing, training and geographic distribution of the fire stations.
Most locations in Grand Chute have a class 4 or higher rating. There are some areas on the eastern end with class 10 ratings.
To illustrate the how ratings affect premiums, a local insurance company was contacted and asked to quote a yearly insurance policy on a $160,000 house. Quotes are as follows:
Class 3 $668
Class 7 $733
Class 10 $1,229
It has been projected Grand Chute’s Public Protection Classification will go down with a new fire station and increased staffing. In addition, improved fire protection in our town attracts businesses and future development, boosting our economy.
