Laserfiche WebLink
?, ?73 <br />Mr. Carmen stated he did not feel this was adequate coverage. <br />Mr. Feneli explained we advertised for that .amount and the <br />ordinance must be passed tonight. <br />Mro Carmen stated he felt the amount should be raised in March. <br />Mr. Sutton explained the different types of our insurance coverage; <br />(liability, property and autorriobile) what each one covers. He <br />stated that once the new policy is in effect we will have several <br />different types of coverage we do not have now. <br />Mr. Feneli questioned if we presently have deductibles on any <br />policy. <br />Mr. Sutton stated that, presently, we do not have a deductible on <br />any policy, but he recommends we take a$250.00 deductible on <br />automobile property damage. <br />b2r. Busa questioned what percentage of savings this would give us. <br />Mr. Sutton stated it would give us a savings of three to five <br />percent. <br />Mr. Etzler stated, with this small percentage of savings,.if <br />just two incidents occurred, we would probably get our savings <br />back. <br />Mr. Sutton stated their Insurance Company usually recommends an <br />appraisal of property be made before the specifications are <br />written. He stated they cannot use past evaluations and be 100% <br />correct. He suggested we have an appraisal so revisions could <br />be made, as he feels we are uninsured. <br />Mr. Feneli questioned if an appraisal was made if it would be <br />incorporated into the policy. <br />Mr. Sutton stated it would be. <br />Mr. Flynn asked Mr. Sutton the approximate cost of an appraisal. <br />Mr. Sutton stated it would cost approximately $2,000a00 for <br />building and contents. <br />Mr. Carmen mentioned something similar to an appraisal that <br />could be done by the insurance company. <br />Mr. Edward Sutton stated a notation must be made with the <br />appraised figure stating that, "the appraised figures were <br />made from the best knowledge that we have of todays building <br />prices and to give you as a guide for buying your insurance <br />but we cannot guarantee you by law".