Insurance renewal meeting highlights significant savings in workers' compensation premiums

The Humboldt County Board of Supervisors convened on June 30, 2025, to discuss the annual insurance renewal, focusing on a comprehensive summary of the county's insurance policies and premiums. The meeting began with a presentation detailing the renewal packet, which included a statement of values listing all county property and equipment.

The key highlight of the renewal was a decrease in overall premiums by $3,664 compared to the previous year. Notably, the workers' compensation premium saw a significant reduction of over $15,000, dropping from $96,000 five years ago to $32,346 this year. This decline was attributed to the establishment of a safety committee and regular safety meetings, which have effectively reduced claims and associated costs.

The property section of the insurance revealed an increase in blanket value to approximately $24 million, primarily due to inflation and the addition of a new building. The deductible for property coverage remains at $1,000, with discussions on potentially increasing it to $2,500 or $5,000 in the future to explore cost savings.

The meeting also addressed the implications of a 1% wind and hail deductible introduced last year, which could lead to substantial out-of-pocket costs in the event of a catastrophic loss. The board discussed options for buy-down policies to mitigate these high deductibles.

Further discussions included the general liability coverage, which stands at $2 million per occurrence, and an additional $6 million excess policy. The board reviewed the automobile liability limits and noted the addition of three vehicles over the past year, contributing to the overall increase in premiums.

The workers' compensation section highlighted a calculated premium of $93,000, which was significantly reduced to $32,346 after applying various discounts. The board acknowledged the efforts of the safety committee in achieving these savings.

In conclusion, the meeting underscored the county's proactive approach to managing insurance costs through safety initiatives and strategic policy adjustments. The board plans to continue evaluating options for further savings and coverage enhancements in future meetings.