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County insurance premiums jump; commissioners plan to shop quotes next year
Summary
Staff reported the county's combined property and vehicle insurance premiums have risen sharply over the past two years; commissioners discussed surplusing older vehicles to reduce premiums and agreed to begin soliciting competitive bids for the next renewal cycle.
MILLER COUNTY — County staff told commissioners that Miller County’s combined property and vehicle insurance premium has nearly doubled over recent years and recommended seeking competitive bids before the next renewal.
Staff reviewed recent premium history, saying the county paid about $267,000 last year and that the current renewal was “over 300 and something thousand now” for combined property and vehicle coverage. A staff member attributed part of the increase to recent lawsuits and the addition of new, higher-value vehicles to the county fleet.
“We were at 267,000 last year and that's over 300,” the presenter said. Staff noted the county will be surplusing older vehicles as new vehicles arrive, which should reduce the vehicle value base but not immediately offset the premium increase.
Commissioners instructed staff to begin soliciting bids for the next insurance period to see whether alternate carriers or broker arrangements could reduce costs.
Ending: No immediate contract change was approved; staff will solicit quotes and return with recommendations ahead of next renewal.
