Albany fire rating means money for property owners

The Albany Fire Department’s new fire rating places it in the top 1 percent of firefighter organizations nationwide and could save Dougherty County homeowners a combined $2.5 million to $3.5 million in fire insurance costs.

Officials estimate that medium- to large-sized companies and industries could save around $200,000 a year.

Fire officials announced this morning that both the city and county Insurance Services Office ratings are now at 2. The city’s rating had been 3 and the county had been a 4. Insurance costs are tied to those ratings, with the lower ratings giving residents and businesses within the fire department’s coverage area better insurabce rates.

Since insurance officials generally don’t asses a charge for a difference between a two and three level, those who own and live in their homes in the city of Albany won’t see a savings, however, those who rent out property and those who own apartments throughout the city will benefit.

Residents in the county, which improved by two points, can see $2 million-$2.5 million in improved rates.

The impact on businesses and industries is more difficult to gauge, officials said, but added that medium to large employers should each see $200,000 in rate savings.