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County hears insurance renewal, weighs replacement-cost coverage for heavy equipment
Summary
Winneshiek County received an insurance renewal briefing that recommended budgeting a modest contribution increase; supervisors debated replacement-cost insurance for high-dollar equipment versus lower payouts under actual-cash-value coverage and discussed trade-offs with carryover funds.
Tara Holford of Community Insurance told the Winneshiek County Board of Supervisors that the county’s property rate itself was not increasing, but an inflation factor of about 2% would raise replacement values and likely increase the county’s contribution by roughly 5% to 6%.
"The property rate is not increasing," Holford said, adding that the inflation factor causes the county’s insured values to rise and that departments should review schedules and replacement-cost listings. She…
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