Falls Saves Nearly $25K in Insurance Premiums
At a time when insurance premiums for many are skyrocketing, the Falls Township Board of Supervisors managed to save more than $24,000 in annual insurance premiums for the coming year.
The Board of Supervisors unanimously voted in favor of awarding its general insurance coverage to Travelers at a cost of $290,412 – a more than 8 percent decrease as compared to last year’s rate of $314,934.
The township has been on a saving streak for some time. Last year’s rate marked a significant savings over the 2014-2015 rate of $329,289.
The insurance coverage features a $1,000 deductible on cars, trucks and fire department vehicles and fire department vehicles.
A sizable portion of the savings was derived from raising the property deductible from $1,000 to $5,000, according to Township Manager Peter Gray.
“We looked at the last couple years,” he said. “It’s to the township’s benefit to raise it.”
Nearby municipalities, including Middletown Township and Bristol Township are paying between $100,000 to $115,000 more for insurance, Supervisors Chairman Bob Harvie said.