During a recent government meeting, officials discussed significant increases in insurance costs, primarily attributed to the addition of 18 new vehicles and rising premiums. The total increase in costs was noted to be approximately $36,000, which raised concerns among members regarding budget management.
One of the key topics was the introduction of standalone cyber coverage, effective October 1st, which will now be charged separately at $12,101. Previously, this coverage was included under public officials liability at no cost. The new cyber coverage will provide a limit of $500,000, with annual evaluations to determine if higher limits are necessary based on member feedback.
Additionally, the meeting highlighted the need to address the growing number of vehicles, particularly those that are no longer operational. Officials pointed out that many older vehicles, especially those used by the sheriff's department, are currently being stripped for parts while still incurring insurance costs. There was a consensus on the necessity of holding a sale for these vehicles to alleviate some of the financial burden and potentially reduce insurance expenses by switching to liability-only coverage for non-operational units.
The discussions underscored the importance of proactive measures in managing both vehicle inventory and insurance costs to ensure fiscal responsibility within the government’s operations.