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East Grand Forks district trustees weigh property-insurance shortfall and premium trade-offs
Summary
Superintendent Kevin Grover told the school board the district carries about $116 million in property coverage and may be $20–$60 million short of full replacement value; board members discussed whether to increase coverage given cost and low perceived risk.
Superintendent Kevin Grover told the East Grand Forks Public School District Board of Education on a June meeting night that the district currently carries approximately $116,000,000 in property insurance coverage and that, depending on valuation assumptions, the district could be between about $20,000,000 and about $60,000,000 short of full replacement value.
Grover said raising coverage by $20,000,000 would cost roughly $18,000 a year in additional premium and that raising it by $60,000,000 would cost about $54,000 a year. He told the board the quoted figures covered the building (property) piece only and did not reflect contents or cybersecurity coverages. "To go…
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