Ozark County to see higher insurance costs in 2023

Ozark County Commissioners found out Monday that the county’s insurance cost is increasing for 2023, but the increase isn’t as much as the previous year’s hike.

While the county is considered self-insured on the health insurance side, which has saved the county a considerable amount of money, the county’s other insurance needs are met by Travelers group, through Ozark Hills Insurance.

County commissioners John Turner, Layne Nance and Gary Collins looked over the insurance package submitted by Ozark Hills Insurance, which showed a total cost of $271,844 for 2023. That cost is up from $253,596 in 2022.

“This is probably something that most people don’t realize,” Turner said. “This is the cost of the county doing business, our insurance is a quarter of a million dollars a year.”

Turner said the county could consider being self-insured, except for the liability portion of the policy and any vehicles and equipment that have liens against them that require full coverage insurance.

“It’s something to think about,” Turner said.

The increase of $18,248 is about a 7 percent increase.

A major change in the county’s policy is a $250,000 wind/hail deductible. County clerk Brian Wise said he didn’t know the old deductible off the top of his head, but said the difference was certainly “significant.”

Changes in the county’s policy premium are as shown:

• Property went from $33,604 per year to $34,494.

• General liability went from $20,740 to $22,745.

• Employee benefits liability stayed the same at $222.

• Inland marine (equipment) stayed the same at $10,237.

• Workers compensation went down from $115,661 to $113,589.

• Law enforcement liability went from $18,036 to $21,865.

• Management liability went from $7,117 to $8,248.

• Employee practices liability went from $9,282 to $11,910.

• Auto liability went from $27,263 to $36,132.

• Auto physical damage went from $9,986 to $10,329.

• Cyberrisk went from $1,422 to $2,703.

Commissioners said Travelers had rate increases across the board and that the premium hike wasn’t because of increased claims.

“We’ve actually had very few claims overall,” Turner said.

Commissioners talked briefly about other options, but noted there were very few companies that serve municipalities.

“We’re going to take a good look at it,” Turner said.

Ozark County Times

504 Third Steet
PO Box 188
Gainesville, MO 65655

Phone: (417) 679-4641
Fax: (417) 679-3423