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I II <br /> II I <br /> i <br /> i n 'i <br /> • <br /> ELK"RIVER MUNIC`IPALETlLITIE�; :,` X' <br /> RENEWAL PREMIUM SUMMARY-t 07/ 014 TO 07/01/2015 <br /> It <br /> COVERAGES PREMIUMS I PREMIUMS ' <br /> I2013-2014 I 2014-2015 <br /> Property $ 24,565 $24,995 <br /> Mobile Property $ 3,982 I $4,124 <br /> Equipment Breakdown $ 54,798 1 $61,741 <br /> If . Crime <br /> Included 1 Included <br /> Faithful Performance Bond I $ 328 $ 328 <br /> Municipal Liability I $ 61,802 I I <br /> $49,442 <br /> Auto Liability and Physical Damage I $ 6,998 I $6,929 1 <br /> I Open Meeting Law <br /> Included I Included <br /> II Petrofund Included I Included <br /> Fireworks I Not Covered I Not Covered <br /> No Fault Sewer Back Up I Not Covered ;I Not Covered <br /> 11 TOTAL PROPERTY/CASUALTY $152,473 $147,559 <br /> , PACKAGE <br /> I ' Liquor Liability I Not Covered I Not Covered <br /> I Excess Liability <br /> Not Covered I Not Covered <br /> I TOTAL P/C PREMIUM I I $152,473 I $147,559 <br /> Note: <br /> 1. Property premium increase factors: <br /> f a. Coverage increase from$51,084,670 to$54,305,868 due to the LMCIT Inflation <br /> Replacement Cost Factor. <br /> 1 2. Municipal/Auto Liability Premiums: <br /> a. Favorably impacted by new LMCIT rating process transition emphasizing Land <br /> Use,Police,Sewer Back-up and Employment Related exposures. • <br /> b. Experience Modifier factor increased about 3.6%from.878 to.910(1.00 average). <br /> 3. Employee Dishonesty Option at$1,000 deductible,$467 premium($139 additional). <br /> 1 <br /> ii. <br /> I <br /> 147 <br />