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Council approves annual insurance renewal after Q&A on vehicle and cyber coverage
Summary
The council approved the town's July 1 insurance renewal after a presentation from agent Mr. Gaston and a short Q&A about vehicle collision coverage and optional cyber and terrorism riders.
The Buckner Town Council voted to approve the town's annual insurance renewal following a presentation and questions about vehicle and cyber coverage.
Mr. Gaston, the insurance agent who presented the package, said the renewal covers roughly $11,127,087 in property value and that several liability lines saw no rate increase. He told the council the annual package would “bring in 121,770” and outlined optional cyber policies, saying, “Your premium for $1 million of cyber liability with a $1,000 deductible is $1,380 a year.”
Council members questioned whether some vehicles should carry full comprehensive collision instead of the $1,000 deductible shown on the schedule; the chair asked staff to provide comparative rates for the specific units named on the auto schedule. Mr. Gaston told the council “we could vote to accept the proposal with the condition we're checking rates,” and said changes to collision coverage can be made later in the policy year.
After discussion, the council moved and approved the renewal by voice vote, with the motion including the optional terrorism and leaving cyber as a separately priced add-on the council can decide to purchase. The motion included a direction to have staff check comprehensive/collision premium differences for identified trucks and report back.
The council did not record a roll-call vote; approval was by voice.
Next steps: staff will return with vehicle premium comparisons and any requested adjustments to the auto schedule before finalizing endorsements.
