Brecksville approves $356,473 insurance renewal; city increases deductibles to curb premium rise

Brecksville City Council approved the city's insurance and risk-management renewal May 20 for a one-year policy period running May 25, 2025 through May 25, 2026. The renewal premium presented to council was $356,473, a 15.48% increase over the prior year.

Director Barkowitz told the finance committee the renewal covers all property and liability lines and that the increase primarily reflects a higher statement of values for city property and equipment. The city's statement of values rose to $112,600,804 from just over $105 million in 2024; by comparison, staff said the statement of values was about $55 million in 2017.

To reduce premium pressure, the administration increased the property deductible from $5,000 to $10,000 and the auto deductible from $500 to $2,000 after reviewing claim history and consulting with the mayor, finance director and other staff. Barkowitz said flood and earthquake coverages have seen substantial cost increases nationwide and that the city's vehicle fleet additions and higher-value vehicles also contributed to the premium rise.

Councilmember Bender moved the recommendation to accept the renewal with broker Wicker Insurance; the motion passed unanimously on roll call in committee and was later adopted by the full council.

WHY IT MATTERS: The 15% premium increase affects the city's operating budget; council approved the changes after weighing the city's risk exposure and the desire to contain costs. The deductible adjustments were presented as internal risk decisions informed by recent claims activity.

No changes to coverages beyond deductibles were described at the meeting; staff said they had worked "tirelessly" with their broker to reach the renewal terms and highlighted the broker's rapid response after an earlier fire claim.