Bargersville Town Council voted to accept Travelers’ renewal proposal for the town’s property and casualty insurance under the Option 2 package for the 2025–26 policy year, and separately approved Chubb for cyber liability coverage and National Union Fire for police reserve benefits.

Council members debated the renewal after an extended presentation from the town’s insurance representative, who described market-wide rate increases and limits on which carriers will insure municipalities with utility and railroad exposures. The council approved Travelers’ option 2 — which carries a higher deductible but a lower premium — by voice vote. The council separately approved Chubb as the town’s cyber liability insurer and National Union Fire to cover police reserve benefits.

Why it matters: the town’s insurer market has narrowed for municipalities that manage utilities and perform work near railroad tracks. Council members said the combination of higher statewide property values and increased exposures pushed the premium higher even though the underlying rate increase was smaller. Officials said choosing Option 2 reduces the town’s near-term premium outlay while increasing the town’s deductible exposure.

Key details from the presentation:
- The insurer reported a 24.4% rate increase this year; the council’s overall premium rose about 32% versus the prior year because of increased exposures and an 8.5% uplift in insured property values.
- The town’s insured property values were reported to have risen from roughly $96,000,000 to about $104,000,000.
- The town had previously increased property deductibles from $5,000 to $25,000 and automobile collision deductibles from $1,000 to $5,000; Option 2 would keep a higher deductible (example: $50,000) for additional premium savings (about $9,300 lower premium compared with the lower-deductible option, per the presentation).
- The town’s loss history for the most recent expiring year was approximately $66,000; multi-year figures were presented to show fluctuation by year.
- For a job-specific requirement related to work under railroad tracks, the railroad agreed to accept the town’s current policy with a job-specific $3,000,000 additional limit for a one-time premium (presenter cited $25,000 for that specific coverage on a small project).

Council comments: Members said the market dynamics — not solely local claims experience — drove much of the increase and asked staff to research longer-term alternatives, including pooling or other market strategies. One council member said the current trend is “unsustainable” if repeated every year.

The council’s votes recorded at the meeting: Travelers Option 2 approved by voice vote; Chubb approved for cyber liability by voice vote; National Union Fire approved for police reserve benefits by voice vote.

The council also directed staff to continue marketing alternatives and to return next year with any additional options for longer-term sustainability.