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<br /> Minutes of Regular Finance Committee Meeting <br /> . Page 2 <br /> INSURANCE QUOTATION FOR 1987 <br /> 1985 1986 1987 <br /> Property Covera~es 13,661 5,147 5,441 <br /> This coverage includes the buildings and the contents <br /> of the buildings; there is a $1,000 deductible. The <br /> lists are updated yearly by Raddatz and Buckley. <br /> Inland Marine incl. 2,659 1,891 <br /> This includes all miscellaneous equipment, <br /> everything in the parks, all miscellaneous <br /> public works equipment. Erickson suggested eliminating <br /> all items on the list with values under $500 to de- <br /> termine how much this would lower our premium rate. <br /> However, if the Village chose to go with the $5,000 <br /> deductible overall, this would probably drop <br /> proportionately. <br /> General Liability inc l. 24,416 29,845 <br /> This covers liability in all Village operations. <br /> The premium cost is figured (for the first time <br /> this year) are total payroll, since it is assumed <br /> that this is a reliable index of the size of the <br /> . Village's operations. <br /> Auto and Truck Liability 5,521 4,779 4,226 <br /> This premium cost is based on the number of units <br /> and their uses. There is a $500 deductible on <br /> this policy. <br /> Auto and Truck Physical Dama~e incl. 2,227 1,776 <br /> In both these areas, Committee discussed wisdom <br /> of dropping collision coverage on vehicles with values <br /> under $3000; felt this could save $430. <br /> Uninsured and Under insured Motorists incl. 247 221 <br /> Public Officials Liability 1,270 5.536 6,904 <br /> TOTAL 50,304 <br /> Blanket Bond and ForRery 421 614 614 <br /> $1,000,000 Umbrella CoveraRe 7,200 16,350 17,517 <br /> Lea~ue of Minnesota Cities Insurance Trust Reserve -- 4,370 0 <br /> GRAND TOTAL 68,435 <br /> With $5.000 deductible per line, and $10,000 <br /> . deductible aggregate, deduct............................................ -7,067 <br /> ___n'_ _.~_ _ __.__" __ '0' <br />