Algood may look at purchasing a new fire engine next fiscal year.
City Administrator Keith Morrison said a new engine could help lower the town’s ISO rating.
“What it’s going to get you is a lower insurance rating for your residents and it’s another one of those what level of comfort are you willing to pay for?” Morrison said. “We can make it with the engine we’ve got, but we’re going to stay where we’re at.”
Insurance companies use the ISO rating as one component in establishing property insurance rates. A lower rating means property owners typically pay lower rates than communities with higher ISO ratings. Algood’s rating is currently at a six on a 10-point scale.
Morrison said having a second engine would provide better protection to residents as the current engine is 19-years-old.
“Eventually, this pumper is going to need to be replaced. At some point, I’m not going to be able to certify the pump anymore and we’ve put several thousand dollars into it in the last two or three years,” Morrison said. “The other issue is if this tears up and it’s down then I don’t have another one sitting there.”
A brand new truck would cost the city about $500,000 and provide 15 to 20 years of service.
City Council members have not decided if the purchase will be included in the upcoming budget.