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Hancock County School District reviews property insurance renewal; staff recommends lower-cost option
Summary
District staff presented two property-insurance options on March 24 and recommended an option that would lower the premium by about $153,000 while increasing covered value; no final vote was recorded at the meeting.
The Hancock County School District Board on March 24 reviewed two proposals to renew the district's property-insurance program and heard a staff recommendation for the lower-cost option that would reduce the premium and increase replacement-value coverage.
District staff member Mr. Ladner told the board the district currently carries $50 million in wind-and-fire coverage and lists roughly $170,976,000 in assets. He described two renewal options and the differences in deductibles and premiums, and he recommended option 2 because it would reduce the expiring premium by about $153,439.
Why it matters: The board is weighing coverage levels,…
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