Some residents to see drop in fire insurance

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News,Business

BATON ROUGE, La. (AP) — State insurance regulators say St. Charles Parish homeowners can expect significant rate reductions in their fire insurance premiums, effective Aug. 11.

Commissioner of Insurance Jim Donelon says the new rates will affect those in Fire District 8 — the Destrehan and New Sarpy areas. He says the change is a result of the district improving its fire protection grading from Class 4 to Class 3.

Fire insurance for a home valued at $150,000 was costing residents about $1,409 a year. Donelon says that cost is likely to drop to about $1,246 under the new grading.

Donelon said Wednesday that the 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.

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