City Gets Break On Annual Insurance Premium

City Gets Break On Annual Insurance Premium

Trevor Moon, representing North Wyoming Insurance in Buffalo, gave a presentation to the city council at their last meeting on their annual insurance policy costs and found they could save nearly $35,000 by changing providers.

In 2012 the city paid $70,402 to Diamond States Insurance for a $29 million blanket policy, $2 million for equipment coverage, and $3.2 million in vehicle coverage.

This year, after shopping the city's policy, Diamond States returned a quote of just over $74,000 for essentially the same policy.
Glatfelter Insurance Group gave a quote of $45,680 and Euclid Insurance Company came back at $41,900.

Moon said he had no idea why the quotes were so different, but that is why they shop them to find the best deal.
He suggested the city go with Glatfelter even though they were slightly higher in their premium, because he is familiar with the company.
He also pointed out a coverage benefit they offer where there is no limit to replace an emergency vehicle if it is a loss. The company guarantees full replacement cost for any emergency vehicle.

He gave another positive point with the policy.

The council voted to approve the policy change.

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