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Board approves $39,017 annual insurance premium, with early‑pay discount option
Summary
Trustees approved the Village's 2026 Illinois Municipal League Risk Management Association premium of $39,017.00, noting a 1% discount if paid by Nov. 14, 2025 and a year-over-year increase of $752.40.
The Board voted to approve the Village’s 2026 IMLRMA annual premium of $39,017.00 at its Oct. 21 meeting. The minute notes a 1% discount if the premium is paid by Nov. 14, 2025 (reduced amount: $38,629.33) and that total coverage costs rose by $752.40 compared with the prior year.
Director Nick Gottwalt introduced the item as part of the President’s Agenda. The premium covers workers’ compensation, auto liability and comprehensive general liability, portable equipment, physical damage and property. The motion was adopted via the consent agenda (vote: 5-yes, 0-no, 1-absent).
