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Bowmont council approves lower-deductible, higher-limit windstorm coverage after staff recommendation
Summary
After a presentation from Victor Insurance Managers and city staff, Bowmont council approved the staff-recommended insurance renewal (option one) that raises open-market property limits and halves key deductibles, a change officials said saves the city roughly $250,000 versus the expiring policy.
Bowmont — The Bowmont City Council approved a renewal of the city’s windstorm and hail insurance that staff said increases limits and reduces the city’s out‑of‑pocket deductibles. Marissa Arseno, the city’s liability administrator, introduced representatives from Victor Insurance Managers, who explained three options for the 2026 renewal and the markets they solicited.
Victor Insurance’s presenter said the recommended option raises open‑market coverage limits from $50 million to $60 million for the city’s portfolio and reduces the per‑item deductible from 2% to 1% for most locations. “We have been able to save the city over a quarter million dollars on their windstorm and hail insurance,” the presenter said during the council briefing. Arsenó noted the Texas Windstorm Insurance Association (TWIA) policy remained stable for locations best modeled in that program.
Council members asked questions about exposure, deductibles, and the tradeoffs among the three options. City staff recommended option one as the best combination of improved terms, lower deductibles and a net premium reduction compared with the expiring plan. When the item returned as a formal resolution on the consent agenda, council voted to adopt the recommended option.
Why it matters: The change reduces the city’s deductible exposure in the event of a windstorm or hail loss and expands available limits in the open market. City officials characterized the renewal as the result of favorable market conditions and competition among carriers.
What’s next: The city manager was authorized to execute the policy consistent with option one. Staff will incorporate the insurance renewal into the city’s risk-management and financial planning documents.
(Quote attribution built from council meeting remarks: Marissa Arseno; Victor Insurance presenter Hina.)
