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Hays weighs property-coverage options, renews 2026–27 policy package
Summary
City finance staff reported on competing property coverage options and the commission authorized renewal of the 2026–27 property liability coverage package for $569,891; staff compared a Travelers quote with NPR pool terms and deductible trade-offs.
Finance staff presented options for renewing the citys property liability coverage for fiscal year 202627 and recommended renewing coverage through the city's program. The commission moved to authorize the city manager to renew the 202627 property liability coverage package in the amount of $569,891, funded from the intergovernmental insurance line item; the motion carried 5-0.
Staff explained they solicited market quotes and received a Travelers proposal of $510,008.36 that included a 3% wind/hail deductible per building (example given: 3% of a scheduled airport value would be $84,000). The NPR pool offered a near-flat renewal with a $50,000 per-event deductible; staff said a buy-down with Travelers to reach a $50,000 deductible would increase the premium by about $90,000, and that switching carriers would also affect broker claim handling and fees. "This quote was $510,008.36 from Travelers," staff said during the presentation, and commissioners thanked staff for going to market and performing due diligence.
The commission noted NPRs member services and risk-management supports (loss control reviews, training and building appraisals) as advantages when evaluating total value rather than premium alone. Staff said they will continue to monitor market conditions and may re-bid if insurance markets soften further.
