Bluffton council will hear an update from its insurance committee on Monday.
A recent audit and appraisal shows the value of village buildings and content increased by $3,728,296. And, inland marine increased by $866,014.
The village insurance premium will go from $51,261 to $58,174, according to information revealed at a June 14 insurance committee meeting.
“Basically we are getting an additional $4.5 million in coverage for $7,000,” Jerry Cupples, insurance committee chair wrote in a report in Monday’s council packet.
He added that this includes the Bluffton airport terminal and hangar, which was not previously part of the coverage.
Additional details of the insurance committee meeting are found in the council package attached at the bottom of this story.
