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District insurance renewal comes in below budgeted spike; board considers buying down $75,000 wind/hail deductible
Summary
The district's insurance renewal rose about 9.93%, well below a budgeted 25% increase; insurers raised wind/hail deductibles to $75,000, and the board was presented an option to buy down deductibles to $25,000 for roughly $18,500 total across buildings.
The Grey County Board of Education reviewed its insurance renewal and options to reduce large wind/hail deductibles.
Staff told the board the district had budgeted for as much as a 25% premium increase given recent severe weather, but the renewal came in far lower — about a 9.93% increase. However, the insurer raised the minimum wind-and-hail deductible to $75,000 per claim.…
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