Insurance Services Office (ISO) Rating
A portion of the insurance premiums that homeowners and business pay is based on the quality of the fire protection available. The ISO compiles locality ratings and provides them to any insurance company that requests them. The ISO conducts inspections of fire departments and their capabilities, the available water supply, the emergency communications facility. Upon completion of an inspection, a score/grade is assigned to the area that the fire department protects. This grade will be the determining factor in the cost of insurance premiums. A Class 1 is the very best rating and citizens can expect to pay the lowest premium available. A Class 10 is the worst rating and is assigned to areas with little or no fire protection.
The Richmond Department of Fire and Emergency Services has a Class 2 rating. This is based on information obtained from various real estate and insurance agencies in the city. The Richmond Fire Department offers a minimum cost savings to its residents and business of $48,000,000 in annual insurance premiums.
