City’s insurance rates rise along with national trend
Basehor City Council approved the renewal of the city’s property and liability insurance for the next year for a total of $54,197 at its meeting Monday night.
The amount is about 8 percent than last year’s $47,194, said J.R. Reilly of Reilly and Sons, mostly due to premium increases stemming from the dramatic increase of storm damage across the country in recent years. Most insurance companies are appraising property values higher after finding it more expensive to replace storm-damaged property, Reilly said, which raises insurance costs overall.
Also at the meeting:
• Springsted representative Bryan Kidney presented the council with a certificate for its second Standard and Poore’s AA- bond rating.
• During the administrator’s report, Interim City Administrator Lloyd Martley told the council the new pedestrian crossing lights are installed and working at 155th and Hickory streets. He also updated the council on building permits. Ten new permits have been let so far in 2013, compared to four permits by this time last year. Martley reported that the police department’s Criminal Justice Investigation Audit found no non-compliant issues.
• Council members entered executive session for 20 minutes to discuss personnel and real estate issues.
• Council member Ty Garver was absent.