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Lamont to seek property-value reassessment after 25% insurance premium increase
Summary
Smith Insurance told the Lamont City Council the municipality’s insurance premium rose 25% to $29,577.04 for April 2023–March 2024; the agent has asked EMC Insurance to re-evaluate property values and will return to the council in May with findings.
Carrie Thole of Smith Insurance, LLC told the Lamont City Council on April 12, 2023, that the municipality’s insurance package for April 2023–March 2024 carried a 25% premium increase, bringing the proposed premium to $29,577.04. Thole said she has contacted EMC Insurance to re-evaluate Lamont’s property values and will present updated information to the council at the May meeting.
Councilmembers did not take a final vote on coverage during the April session; the matter was placed on the council’s calendar for further review, pending EMC’s reassessment. No additional coverage details, deductibles or effective date for any revised premium were specified in the meeting record.
The premium increase was noted during the regular meeting after routine financial items, and the council approved other agenda items including consent items and invoices before adjourning at 8:28 p.m.
