Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Insurance topic
No spam. Unsubscribe anytime.
New Bremen told insurance renewal rose 12.7% to $87,171; council discusses options
Summary
Village Administrator Richter reported the village's property and equipment renewal with the Ohio Plan increased 12.7% to $87,171, driven by adjusted replacement values for police and fire equipment. Council discussed raising deductibles and reviewing building values; a resolution for the renewal was introduced on first reading.
Village Administrator Richter told council that the annual property and equipment insurance renewal through the Ohio Plan increased by 12.7% from the prior year, bringing the renewal premium to $87,171.
Richter said a large portion of the increase resulted from reviewed and adjusted replacement cost values for police and fire equipment. Council discussed options to mitigate the premium increase, including raising deductibles and revisiting building valuations with Stolly. A resolution to renew property, vehicle and equipment insurance (2025-06-07) was introduced on first reading; the minutes do not record a vote on final renewal at this meeting.
The minutes do not list the prior-year premium, deductible levels considered, or a firm decision on whether deductibles will be raised.
