JCPS To Pay 30 Percent More For Insurance

Johnston County Public Schools has approved insurance contracts for the 2020-2021 school year at a significantly higher rate.

During the 2019-2020 school year, the cost for property, workers compensation, vehicle, cyber, and flood insurance was $1,996,706.  The premium this year increased to $2,612,890, a jump of 30.86 percent.

The largest increase was in Property Insurance costs which jumped by $318,839.  Vehicle insurance costs increased by $150,174 and workers compensation by $77,168.

The school system lowered their deductible on wind insurance from $500,000 to $100,000 with a Wind Buyback policy. However, that policy will cost $54,281 during the next 12 months.

The board voted unanimously to approve the insurance contracts.  The following companies will be providers:

  • Property Insurance – Traveler’s
  • Vehicle Insurance – Liberty
  • Cyber Insurance – National Union (AIG)
  • National Flood Insurance Program – American Bankers
  • Excess Flood Insurance – RSUI
  • Workers Compensation- Travelers
  • Wind Buyback – Velocity