Cumming council approves Travelers insurance renewal with deductible change and flood coverage deleted
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Summary
After reviewing multiple quotes, the council voted to switch liability and property coverage to Travelers and approve raising the vehicle comp/collision deductible to $5,000 and removing the flood option; staff reported Travelers' all‑lines quote was lower than the incumbent Selective.
The Cumming Mayor and Council voted 4‑0 to accept Travelers' insurance proposal for core liability and property coverage, increase the city’s automobile comp/collision deductible to $5,000 and delete optional flood coverage, following a presentation of multiple market quotes.
An insurance broker advising the city said the city solicited multiple carriers and received competing packages. The broker reported Selective (the incumbent) quoted an all‑lines premium of $1,075,813 (a 35% increase over last year), while Travelers submitted a lower all‑lines proposal that the broker described as a 12% increase over expiring rates.
The broker recommended Travelers in part because Selective was not offering umbrella coverage and Travelers did. The broker also told the council that increasing the automobile comp/collision deductible from $1,000 to $5,000 would reduce premium by about $23,871, and that removing the flood option would reduce premium by about $15,000.
After a brief discussion on deductibles and flood coverage, a council member moved to approve Travelers' package with the deductible change and removal of the flood endorsement; the motion passed 4‑0.
Context and clarifications: the broker noted increases in exposure (building replacement values and payroll) and elevated loss ratios for some lines (a high five‑year loss ratio on general liability), which contributed to higher renewal prices across the market. The council voted to accept the lower Travelers quote and implement the recommended deductible change and deletion of the optional flood coverage.