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Toledo council approves raising building deductible to $25,000 to lower premiums
Summary
The Toledo City Council voted Aug. 25 to raise the city's property-insurance deductible on buildings to $25,000 following a presentation by AssuredPartners, a move the council said will reduce annual premiums. The vote was unanimous.
The Toledo City Council voted on Aug. 25 to increase the city's insurance deductible for buildings to $25,000 to secure premium savings, following a presentation by an insurance representative.
Mayor Brian Islue Sokol opened the new-business discussion by inviting Matt Zmolek of AssuredPartners to explain options for the city's property coverage. After the presentation, Councilmember Cook moved to set the deductible at $25,000; Councilmember Pansegrau seconded the motion and all present voted aye.
Council members did not record a separate dollar figure for projected annual savings in the minutes. City officials said the change was made for premium savings during the meeting record. The action was presented as a straightforward adjustment to insurance terms rather than a policy change requiring further council action.
The motion was recorded as carried with all present voicing ayes. No public comment on the insurance change was recorded in the meeting minutes.
The council will implement the deductible change through its insurance provider and reflected it in that meeting's consent items and motions. The minutes do not specify the insurer's name beyond the AssuredPartners representative or an estimated premium reduction amount.
