The Charles City School District will see an 11% increase in the cost to their policy to insure it’s school buildings.
The district has a blanket insurance policy for up to $71 million to replace any school that could be damaged or destroyed by events including fire and tornadoes. Robert Ingram with Sisson and Associates explained to the School Board at their regular meeting Monday night, their premium is going up by over $22,000, due in large part to the derecho that impacted central Iowa a year ago. Ingram said agents got a heads up on the price increases from insurance companies in January.
With the rate increase, the district’s policy with EMC Insurance will cost just over $293,000. The board voted to approve the policy as well as a cyber insurance policy for about $6,500.