Lower property insurance tied to city utilities

HIGH SPRINGS – Business and residential property owners in High Springs can expect to see an improvement in their property insurance rates in the near future, as the city’s insurance classification rating took a leap forward this year.

An inspection of the High Springs Fire Department and city utilities was performed in August by Insurance Services Office, Inc. (ISO), located in Jacksonville. ISO is the group which assesses the city’s fire department and its ability to fight a fire. They also assess the city’s ability to provide enough water and water pressure with which to fight fires. Their rating determines how insurance companies decide how much each property owner pays each year for coverage.

“Businesses will see an improvement in rates and homeowners are likely to see a rate improvement as well,” said Bruce Gillingham, High Springs fire chief.

A lower score translates into a lower risk for insurance companies. High Springs was upgraded to a four on the scale, down from six. Only 57 fire departments in the country have the highest possible rating, a one.

The inspectors provide the city with a preliminary idea of where things stand following their inspection. They then forward the supporting documentation to Versk, their parent company in New Jersey.

“They are the ones who plug all the rating numbers into a system to determine each city’s rating,” Gillingham said.

There are three main areas evaluated by the inspector. The criteria are how well the fire department receives and dispatches fire alarms, how it maintains its equipment and records and access to a water supply for fighting fires.

Few fire departments in the nation score a four on the scale.

“There are only 5,019 class four departments in the country, and we are one of them,” he said.

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