HomeMy WebLinkAboutOak Park Heights Renewal Summary
July 18, 2019
City of Oak Park Heights
Covered Party:
Landmark Insurance Services
7/7/2019
Effective Date:
RENEWAL PREMIUM SUMMARY
Common Coverages
CoverageDeductiblePremium
●
$
Property
1,000.$40,273.
●
Mobile Property
1,000.2,819.
● Municipal Liability
1,000.51,905.
● Automobile Liability
1,000.3,832.
● UM/UIM $200,000 all owned autos
1,000.Included.
● Basic Economic Loss Benefits (PIP) all owned autos
1,000.Included.
● Automobile Physical Damage
1,000.4,165.
● Crime
1,000.Included.
● Petrofund
NA.Included.
● Defense Cost Reimbursement
NA.Included.
Experience Factor Modifier:
1.257
Expiring Experience Factor Modifier:
1.218
(Applied to Municipal Liability, Auto Liability, and UM/UIM) The modifier is calculated with a formula which compares the city’s actual loss history with the amount of losses that
would be expected for a city of that size if the city were a perfectly average LMCIT member. If the city’s losses and expenses are better than average the city receives a premium credit.
If the city’s losses and expenses are worse than average, the city receives a premium debit.
Optional Coverages
CoverageDeductiblePremium
● Bond100,000.
418.
$1,000.
● Equipment Breakdown
2,927.
1,000.
● Excess Liability Limit:1,000,000.
15,794.
$NA.
● Liquor Liability Limit:
Not Covered.
$NA.
● Fireworks
Not Covered.
● No Fault Sewer Back Up Limit:25,000.
2,434.
$1,000.
● Airport Liability
Not Covered.
TOTAL:
$124,567.
DO NOT PAY UNTIL YOU RECEIVE INVOICES
TORT LIMIT:$2,000,000/$2,000,000
PREMSUMXM(11/11)
Comments:
If the expiring covenant includes additional interests (mortgagee, loss payee, additional insured) you will find a
schedule of those interests included with the Premium Breakdown. Please review, update and return to your LMCIT
Underwriter.
Renewal is subject to signed and dated Waiver Election Form. Please forward at your earliest convenience.
Optional Coverage Quotes
Coverage DeductibleApproximate
Premium
Optional coverage(s) are not bound unless the covered party has requested that coverage be bound and LMCIT has sent
a written confirmation. Optional coverage quotes are valid for 30 days after the date of this letter
.
Sincerely,
Underwriter
PREMSUMXM(11/11)