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Insurance premiums rise as board approves 2026–27 property-insurance rates
Summary
After a presentation from Bill Thompson Insurance, the USD 505 board approved new property-insurance rates for 2026–27, citing automatic premium increases tied to higher property valuations. The board tabled purchasing replacement vehicles damaged by hail.
Kim Riddle of Bill Thompson Insurance told the board there is "an automatic premium increase due to the increase in property value," and laid out the proposed rate changes for the coming policy year.
Following the presentation, the board voted to approve the new property-insurance rates for 2026–27 (motion by Maggy Robison; seconded by Jennifer Stewart). The vote was recorded as 7-0. Separately, the board chose to table purchases to replace vehicles damaged by hail and will retain the damaged vehicles pending further review of options and costs.
