Muskingum County’s Insurance Increase

by Katie McGraw on April 22, 2013 at 6:34 am

Muskingum County will be seeing a several thousand dollar increase in its insurance policy premium for this year.

Monday afternoon, the County Commissioners met with their insurance provider, County Risk Sharing Authority to discuss the 2.86%, increase which equates to about 12 thousand dollars. Corsa provides insurance for 65 of the 88 Ohio counties and Muskingum county was below the average of 3%,

"Which is lower than pool wide, that is really still pretty good,” said Marketing Manager for Corsa, Ginny Shrimplin. “The reason for their increase really is because of the new appraisal we did last year and their building values went up about 3.5 million."

Besides the new appraisal, the severity of the storms in June were also a cause for the insurance rise, which is considered a loss for the county.

"Which is what is driving the property rates to go up right now. Over the last three years, we have had significant storms that have gone through the Midwest, that have effected Ohio as well, and all of our members have seen these losses. So that’s the reason for the increase. "

For the counties in Ohio that were above the 3% curve, it is most likely due to higher exposures, meaning the buildings, their contents, and number of deputy’s in a county.