Madison property owners could see a reduction in fire insurance premiums due to an improved fire rating.

The Mississippi State Rating Bureau on Jan. 6 dropped Madison to Class 5 from Class 6. 

“This is good news because the city continues its commitment to helping citizens lower their insurance rates,” Fire Chief Derrick Layton said.

An improved rating can result in lowered premiums for home, property and commercial building insurance. Reductions depend on several variables and will vary by insurance company. The classification number is only one of several categories used in developing an individual’s fire insurance rate. Homeowners should direct questions about their individual rates to their  insurance agents.

“I am so pleased to receive Madison’s lowered fire rating,” Mayor Mary Hawkins-Butler said. “This drop follows hard work by our Fire Department to improve the rating for our residents and businesses. We will continue to work to improve the fire rating even lower.”

Representatives of the Mississippi State Rating Bureau spent a week gathering information to determine Madison’s fire insurance classification in late 2019 as part of the city’s scheduled five-year evaluation. 

The bureau looked at Madison’s firefighting capabilities, including the fire department, the water supply and the emergency communications system, in addition to other specific factors in setting the better classification rate.

“We are pleased to advise that the fire defenses of the City of Madison have advanced and improved fire insurance classification of Fifth Class has been confirmed effective January 6, 2020,” the bureau said in a letter to the city. “Your interest in fire protection and prevention is commended.”

Layton said Madison is always working to provide the safest environment for its residents. “We will continue to strive for an even better rating and uphold our commitment to fire service,” he said.