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ZIP Code changes could result in reduced insurance premiums

Rachel Wheeler Archive
ZIP Code changes have been made to address data in two regions in Denver, Colorado, and could result in some residents having lower insurance premiums.

Insurance companies use zip code software to set their premiums, as each separate community has its own set of factors that could present risks to homes and therefore affect insurance policies, reports TheDenverChannel.com.

Proximity to fire stations, potential risks from wildfires and various other factors are used by insurance companies in their assessments and can change if a homeowner is suddenly grouped within a new ZIP Code in a bid to streamline delivery routes.

Carole Walker of the Rocky Mountain Insurance Information Association told the news station: "Where you live. How many hail losses you have in that area? Are you in a high-risk wildfire area? How close are you to a fire department? Those are all things that affect how much you pay for car and homeowners insurance."

In other news, zip code software is being used by San Diego Unified to identify construction workers who will be prioritized for employment, according to VoiceofSanDiego.org.
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