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Thursday, December 09, 2010

Big Drop In Insurance Rates For Milton Homeowners.

Courtesy Wsbtv.com

MILTON, Ga. -- Some residents in Milton have good reason to watch the mail for their next insurance bill -- it's going down significantly thanks to a new insurance rating earned by the Milton Fire Department.

When Milton became a city, sections of the community inherited a not so stellar fire safety rating from Fulton County, city leaders told Channel 2’s Jim Strickland

Recently the insurance industry figured out Milton is a department in and of itself and residents will immediately benefit, according to Fire Chief Robert Edgar.

“I think there are going to be quite a few that will be pleasantly surprised with the change in the rating,” said Edgar.

Insurance fire ratings are like golf scores; the lower the better. Sections of Milton, formerly covered by Fulton County's rating, are going from a nine rating to a four.

“This is an exceptionally good improvement in terms of safety and the amount of money people are paying for insurance,” said Georgia Insurance Information Service spokesman Dave Colmans.

According to GIIS figures, the owner of a $250,000 home in the affected area can expect a premium drop of nearly $900, given standard rates.

“It was a matter of moving our resources around to provide better coverage and staffing for our units,” said Edgar of the effort to achieve the new rating.

Edgar said the new rating and new insurance rates don't get published until spring so they’re still trying to figure out how many residents will benefit.

Edgar admits an even better rating is possible, but that will take more staff, more fire stations and more money.

4 comments:

Lee at rootsinalpharetta.com said...

That is in deed good news. But are you sure that's not a typo? A drop of $900 on a $250k home? I don't think the premiums are that high to begin with.

-Lee
rootsinalpharetta.com

Anonymous said...

Most of our insurance policies that were in effect prior to incorporation were already based on Alpharetta's rating of 2 so this does nothing to help us.

Anonymous said...

Chief Edgar is full of it. Fulton county had a ISO rating of 3 when Milton became a city.

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