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Council approves property insurance despite nearly 20% premium increase and reduced limits
Summary
The council approved Resolution 1735 to authorize property insurance for 08/01/2024–06/30/2025. Staff reported a roughly 19.8% overall premium increase and notable increases in deductibles and reductions in some limits; council discussed self‑insurance and vehicle coverage options.
The Creve Coeur City Council voted unanimously to approve Resolution 1735, authorizing the city's property insurance coverage for the period beginning Aug. 1, 2024.
Finance director Laurie Obermiller told council the insurer proposed a 17.6% rate increase while the city’s insured values rose 2.2%, producing an overall increase of…
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