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Property Insurance Rates Expected to Rise After Increased Fire Rating in Rural Lafayette

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Property Insurance Rates Expected to Rise After Increased Fire Rating in Rural Lafayette

Property Insurance Rates Expected to Rise After Increased Fire Rating in Rural Lafayette

Property Insurance Rates Expected to Rise After Increased Fire Rating in Rural Lafayette

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Property Insurance Rates Expected to Rise After Increased Fire Rating in Rural Lafayette

ááájazmináá}well if you live in the unincorporated area of lafayette parish ... you may soon see a rise in your property insurance.

áááadamáá}this due to the property insurance assocaition of louisiana raising the rural area's fire rating from a five to a six.{ááájazmináá} news15's carter simoneaux joins us now with more.

[take :carter{ááácarteráá} well guys after parish voters rejected funding for a new rural fire department in december ... lcg was left searching for a way to provide adequate fire protection with a cash strapped department ... which is what led to the increase in fire rating.

[take pkgoutcue:take a while to correct itduration:1:35] ááápkgáá}&lt;for the 95,000 residents of lafayette's unicorporated area ... property insurance rates will rise ... now that their fire rating has increased from a five to a six.(robert benoit, lfd chief)"we have thirty days to submit to the property insurance association of louisiana that graded the fire department as to whether or not they have a plan of action that we can put in place within six months to maintain the class five."and what's needed to maintain that class five rating?(chief)"money."the p-i-a-l looks at a number of factors when determining an area's fire rating ... (blaine rabe, pial)"there's things in communication, fire department, water supply, community risk reduction and operational consideration.

There's all subtopics in there that we grade what they've got against the national schedule."

But it all starts with a lack of money.

And when ratings change ... so too do property insurance rates.(chief)"if you go from one class to another, it could be a ten percent increase or a ten percent increase.

That's just an average of what they look at."

However ... it may not be that much after all.after speaking with a local insurance agent a home valued at $295 k with premium protection under the class five rating will cost about $1,621 a year.under a class six that number increases to $1,663 ... which is only a 2 point 6 percent increase.whatever the increase may be ... it's something property owners will have to live with for at least another five years(chief)"this is not something that happened over night.

This is something that has been going on for the past fifteen years, almost twenty years now.

So, you get to that point.

It's gonna take a while to correct it."> [take :carter]{ááácarteráá} cheif beniot points to a rising population over the past twenty years as one of the factors leading to such a strapped budget.live in the studio carter simoneaux news15 focused on family and the áááadamáá}thank you carter.

The city of lafayette saw it's fire rating remain where it is




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