Good news: Schools saved on car insurance

YOUNGSTOWN -- Shopping around for a better deal netted the Youngstown city schools a $120,000 savings on its fleet insurance bill.
Dominic Modarelli, a member of the Youngstown Board of Education and chairman of its business committee, told the board Tuesday that a new insurance package it was approving for its vehicular fleet will go to Indiana Insurance Co. at an annual cost of $163,089. That's more than $120,000 less than the district paid a different carrier last fiscal year, he said, noting that shopping around to get the best price paid off.
Modarelli said the board's approval of a $136,880 catastrophic property insurance contract with Indiana Insurance is about $5,000 more than the district paid to a different carrier for building insurance last year. However, the new policy provides better coverage, with the deductible dropped from $250,000 per occurrence to $75,000 while the maximum coverage was raised from $85 million to $303 million, he said.