Commissioners approve ‘win-win’ insurance renewal contract
By NICK BUDD
Hays city commissioners agreed to renew their commercial insurance coverage at Thursday’s meeting, but some changes were made to the plan. The current policy will expire July 1.
The city’s insurance broker, Arthur J. Gallagher, recommended commissioners renew the city’s plan with BRIT Insurance, but place the city’s crime and equipment coverage with Hanover Insurance Co. The total cost of the insurance plan will be $189,663, a 3.5 percent decrease from 2014.
Jessica Govic of Arthur Gallagher said the changes in the equipment coverage will both increase coverage and decrease the city’s current deductible from $50,000 down to $1,000.
“In my mind, it’s a no-brainer. There’s no reason to stay where you’re at,” She said.
The change in crime coverage did result in an $800 increase from the old policy, but every employee and official of the city will be covered up to $500,000. The current policy only protects up to three city employees.
“Hanover actually has this policy strictly for municipalities, and that’s why we’re recommending that you switch,” Govic said.
Commissioners voted 4-0 in favor of the changes. The changes will take effect once the current policy expires. Mayor Henry Schwaller was absent from Thursday’s meeting.