12/1/2017 12:00:00 AM
This year, Denton businesses and residents are expected to save money on property insurance as a result of Denton’s Public Protection Classification.
Recently, the Insurance Services Office (ISO) completed an analysis of the City’s fire suppression delivery system and recommended an improved classification. Most insurance companies use the ISO’s Public Protection Classification rating to calculate premiums for residential, commercial, and industrial properties. As a result of this favorable change, businesses and residents may expect up to an approximate two percent rate reduction for commercial properties and up to an approximate eight percent reduction for residential properties.
Denton’s Fire Department has already begun notifying insurance companies of the improved rating. Residents and businesses are encouraged to follow up with their insurance provider if they do not see a change to their insurance costs.
Improvements in Denton’s water distribution system over the past 10 years, along with an increased investment in the City’s fire services and aggressive strategies in preparing for future growth, made it possible to improve Denton’s rating.The improved rating went into effect on Dec. 1, 2017.