Residents in Wichita Falls may see a decrease in insurance rates at the end of this year. The City has been given an upgrade in its Public Protection Classification rating. The Insurance Services Office has upgraded the city from a 3 to a 2. A 1 is the highest rating a city can receive. That rating is used to establish appropriate fire insurance premiums for residential and commercial property. The ratting will take effect December 1st of 2010.
City Fire Chief Earl Foster said the rating is a result of 15-years of planning and improvements by the city and fire department. The new ranking puts Wichita Falls in the top one-percent in the nation and top five-percent in the state of Texas. The ISO does not determine insurance rates. Those are left up to the individual companies and rates will not see any changes until December 1st.