County improves ISO score County improves ISO score

Thanks to a concerted effort by the Goochland County Fire-Rescue department, county residents and businesses could soon see a reduction in the rates they pay for property insurance.

During the Feb. 7 Goochland Board of Supervisors meeting, Goochland Fire-Rescue Chief Eddie Ferguson announced that the Insurance Service Office (ISO) has awarded Goochland County a Public Protection Classification of 4/4X. This was an improvement from the county's previous 5/5Y score, which was awarded in 2017, and followed an in-depth review of the county's fire department and fire suppression capabilities.

Calling it "a heavy lift," for the department, Ferguson told board members that the news was "really good for the county of Goochland, Fire-Rescue and all citizens who purchase homeowners insurance."

During the ISO assessment, reviewers took into account county fire department capabilities, which accounted for 50% of the score, emergency communications (10%), and water supply availability (40%). Additionally, Community Risk Reduction programs allow for extra points. Examples of Community Risk Reduction are fire prevention and fire code enforcement, public fire safety education and fire investigation programs. The ISO's staff collects information about municipal fire suppression efforts in communities throughout the United States. In each of those communities, ISO analyzes the relevant data and assigns a Public Protection Class grade - a number from 1 to 10. Class 1 represents an exemplary fire suppression program, and Class 10 indicates that the area's fire suppression program does not meet ISO's minimum criteria.

This rating is utilized by insurance companies to establish underwriting and fair premiums.

In the letter announcing the new rating, the ISO stated, "A community's investment in fire mitigation is a proven and reliable predictor of future fire losses. Statistical data on insurance losses bears out the relationship between excellent fire protection - as measured by the Public Protection Class program - and low fire losses. Insurance companies use Public Protection Class information for marketing, underwriting, and to help establish fair premiums for homeowners and commercial fire insurance. In general, the price of fire insurance in a community with a good Public Protection Class grade is substantially lower than in a community with a poor grade, assuming all other factors are equal."

Chief Ferguson thanked the board for their support, noting that the department would not have been able to secure the new rating "without the support of the board to have the right resources and support of other county departments." Ferguson also commended the Goochland County Sheriff's Office on their emergency communications system, which was a critical part of the review.

The new ISO rating will go into effect on May 1, 2023, and may take up to six months to impact insurance rates. For more information on how this rating could impact insurance rates, residents and business owners are encouraged to contact their insurance companies.