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Board questions town insurance coverage and agent; members consider shopping brokers
Summary
Board members raised concerns about errors and premium increases in the town's insurance with Norris Insurance, questioned high coverage limits for some assets, and discussed contacting other brokers (e.g., Smith) if a better municipal option exists.
A committee member reported multiple problems with the town's municipal insurance account handled through Norris Insurance, including inaccurate property listings, unanswered questions from the agent, and premium increases the speaker estimated at roughly 18 percent. The member said policy documents contained incorrect addresses and coverage amounts that did not match on-the-ground expectations.
The speaker cited figures contained in the policy packet, saying the Wells Park was listed for $116,386 and the lift station for $248,546; the sewer plant building figure in the transcript was unclear and the speaker said they would need to confirm it with the insurer. "I just don't know and plus the premium um was raised like 18% maybe," the committee member said, adding that the board should consider soliciting quotes from other brokers and that staff should ask whether a midterm cancellation would yield a refund before switching. The board agreed to explore other options and possibly ask a different local agent to review the town's coverage.
