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The cost of fire insurance will drop for homeowners in the Holiday Village area of Rapides Parish Fire District 4 in Louisiana.

Insurance Commissioner Jim Donelon says the rate reductions in fire insurance premiums are set to go into effect Oct. 12.

The reason for the reductions is that Fire District 4 has improved its fire protection grading from Class 5 to Class 4.

The Town Talk reports fire insurance for a home valued at $150,000 was costing residents in Fire District 4 about $1,198 a year.

That cost is likely to drop to about $1,115 under the new grading, saving homeowners about $83 in annual premiums.

Topics Louisiana