VENICE — Like almost everyone, the city is looking at an increase in its insurance premiums. But percentage-wise, it’s a relatively small one — 3.96%.
It’s still a sizable chunk of money when your bill is more than $2 million, however — nearly $82,000.
But that number pales in comparison to the hike the city saw last year — more than $700,000, nearly entirely for property and inland marine coverage.
The big increases this year are 22.16% in auto liability and physical damage coverage (rising to $153,633) and excess workers compensation insurance, up 19.39% (to $206,448).
Actually, there’s one policy that dwarfs those increases: Drone liability coverage is going up a whopping 132.74% — to $3,910.
Altogether, the city’s total proposed insurance bill of $2,149,149 comprises these coverages, according to a memo to the City Council from Human Resources Director Alan Bullock, who’s also the city’s risk manager: property and liability insurance; auto physical and auto liability; general liability; law enforcement liability; cyber liability; excess workers compensation; flood; public official and employment practices liability; airport operators liability; statutory accidental death and dismemberment; marine hull; drone liability; and pollution liability.