Although our area was not hit nearly as hard by the Aug. 10 derecho as other parts of the state, the economic impact is already showing up in the county’s annual insurance rates. Recently, Terry Axman with Mid-Iowa Insurance and Real Estate of Carroll, presented the property and casualty policy renewal to the Carroll County Board of Supervisors. Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio Your browser doesn’t support HTML5 audio
That credit amount, Axman says, has averaged between $12,000 to $25,000 over the past 10 years and hopefully they will be able to get it again next year. Coverage for the county has also changed over the course of the past year. Axman says there is over a half million dollars in increased values with the construction of the jail and the new shelter house at Swan Lake State Park.
Axman also explains that the liability coverage is based on expenses and those have increased.
So in addition to losing the credit, the actual property and casualty premium rose by slightly over $10,000. Safety equipment grants of $1,000 remain in place. Axman says last year, the county had about a $10,000 increase in premiums, but received slightly over $18,000 in member credits for a total bill of $190,349. This year’s premium is at $233,289 and will be approved and paid in full in January.