The University of Tennessee, Knoxville

Tennessee County Municipal Advisory Service

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Importance of Insurance Ratings

Reference Number: MTAS-412
Tennessee Code Annotated
Reviewed Date: November 10, 2017
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In the following example, if a homeowner pays $1 per year for fire insurance in a Class 10 rating, then:

  • Class 9 pays 93 cents, (a savings of 7 percent over a Class 10.)
  • Class 8 pays 72 cents, (a savings of 28 percent over a Class 10.)
  • Class 7 pays 68 cents, (a savings of 32 percent over a Class 10.)
  • Class 6 pays 65 cents, (a savings of 35 percent over a Class 10)
  • Class 5 pays 63 cents, (a savings of 37 percent over a Class 10.)
  • Class 4 pays 60 cents, (a savings of 40 percent over a Class 10.)
  • Class 3 pays 58 cents, (a savings of 42 percent over a Class 10.)
  • Class 2 pays 55 cents, (a savings of 45 percent over a Class 10.)
  • Class 1 pays 53 cents, (a savings of 47 percent over a Class 10.) [8]

ISO Mitigation Online reports the following breakdown for Tennessee communities as of November 2017:

Grade Number of Fire Districts
1 3
2 25
3 55
4 129
5 251
6 177
7 40
8 4
8B 12
9 166
10 13
Total 875

 


[8] www.isomitigation.com

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