By Emily Le Coz/NEMS Daily Journal
TUPELO – City residents and businesses could see their insurance rates drop thanks to Tupelo’s improved fire rating.
The Mississippi State Rating Bureau lowered Tupelo’s fire classification from a Class Five to a Class Four. The city learned of the decision Monday.
Classifications range from First Class, which is the best, to Tenth Class, which is the worst. The state assigns the designations based on numerous criteria and inspections from rating bureau personnel.
Those classifications help insurance companies set prices for homeowner and business insurance. Generally, the lower the classification a city has, the lower the insurance premiums for its property owners.
See the full story in Wednesday’s NEMS Daily Journal.