CANYON, TX (KFDA) - Residents in Canyon could soon be paying less for home insurance thanks to an upgraded city ranking.
Canyon's fire department, water department and communications division were recently renewed by an independent agency called the Insurance Services Office (ISO).
The city was evaluated on how well they handle fire protection. ISO measures that information and supplies it to insurance companies so they can adjust their home insurance rates.
The higher a community is ranked, the lower home insurance premiums are for most insurance companies.
On a scale of 1 to 10, with one being the best, Canyon now has a class two ranking.
To put that in perspective, the ISO surveyed 48,855 communities nationwide, and less than 2% were given a class two ranking.
"This is a good thing to have," said Jerry Hagins, spokesperson for the Texas Department of Insurance. "The better the fire protection, the lower the fire losses. And the lower the fire losses, the lower the insurance rates will be for that area."
Canyon is unique in that their fire department is a combination of paid staff and volunteer firefighters, and not many combination departments receive this high of a ranking.
"Most of those you're looking at fives, some are nines," said Mike Webb, Canyon Fire Chief. "It's really unique for the most part."
The fire department has worked hard for several years to improve their end of the inspection.
"The city has been great the past few years about letting us have money to replace some older equipment," said Webb. "Not just the apparatus, but the equipment that goes on it. They look at that pretty closely, too. Record keeping is a big part of it. The look at your pumper tests, your hose tests, your ladder tests."
What receiving this upgraded ranking means is most home or building owners in Canyon could see lower insurance rates starting in July when the ranking goes into effect.
Webb said lower insurance rates could bring more business to the area.
"It could help the EDC bring in new businesses," said Webb. "Take for example, our ISO is two. If there are places around here that are fours and fives, businesses may take a second look and realize they could save more money by coming over here to Canyon."
Webb is already looking into more work, like bringing buildings up to code and outreach to local schools, to increase their ranking to class one.
Check with your insurance provider to see if this ranking affects you.
Note that some insurance companies, including State Farm, do not use the ISO ranking to calculate the premiums.