City insurance premiums rise due to hike in property values

Following a brief presentation by 118 Insurance Owner Megan Beckman, the Elgin City Council approved a new insurance package.

Beckman presented information about the proposed policy in which, she said, the premium would increase by approximately 10 percent. The increase, she said, was in part due to an eight percent increase in property values. 

Workman’s compensation coverage, she said, saw only a slight change. 

As for the Elgin Rural Fire District premium, Beckman said that rose by approximately eight percent from one year ago.

Following her presentation, the council approved the following premiums:

• $37,893 – City premium

• $7,844 – Workman’s compensation premium

• $17,594 – Elgin Rural Fire District premium

It was just one of a number of matters the council addressed in the nearly hour-long meeting. Others were:

Items for sale — Three resolutions were approved for the sale of items belonging to the City. One was for a 2002 Ford BLS Ambulance and the other was for a Stryker Power pro XT cot with rails.

…see more at this week’s Elgin Review.