Plainview ISD approves $1.014 million property/casualty renewal, opts for wind/hail deductible buy-down

The Plainview ISD Board of Trustees voted 7-0 on May 15 to renew the district's property and casualty insurance for the 2025–26 school year and to purchase an endorsement reducing the wind and hail deductible from 2% to 1%.

Becca (Finance Department) told the board the base premium for 2025 will be $749,524 and the buy-down endorsement would cost $264,627, for a combined total of $1,014,051. "As you can see, the cost of liability insurance has gone up over 50% in 5 years," Becca said during the meeting.

The board heard district staff explain why they recommended staying with TASB: staff cited prior multi-building weather claims across the region, the pace of claims handling they experienced with TASB, and uncertainty about other carriers' ability to pay large losses. "Kendall, which is our rep over at TASB, he was on the phone with us every single day," a staff member said, describing the district's recent experience with major claims.

Staff told trustees they could begin a formal bidding process for the 2026–27 coverage next January for comparative purposes but recommended renewing now to ensure coverage continuity beginning May 1. Trustees discussed whether the endorsement was a prudent cost given the risk of multiple building claims in a major wind/hail event.

Trustees approved the motion to renew the policy and purchase the buy-down endorsement by voice vote. The motion carried 7-0.

Clarifying details from the meeting: the endorsement specifically reduces the wind/hail deductible from 2% to 1%; flood deductibles were discussed separately and remain at the standard percentage; staff said the district had not used the buy-down in the current year but had used buy-downs in prior claim years. The board also authorized staff to prepare to bid the district's insurance for the 2026–27 year for comparison.