Oldsmar renews general liability, property and workers' compensation coverage with FMIT

The Oldsmar City Council approved renewal of its general liability, property and workers’ compensation insurance with the Florida Municipal Insurance Trust (FMIT) for FY 2025‑26. Staff explained the renewal retains current coverage selections, including a $25,000 deductible for most lines, blanket property coverage of $88,998,462 and a 10% named‑storm deductible for hurricane coverage. Staff reported a net premium change that results in a total renewal cost of $1,058,289 — an increase of $35,173, or about 3.4% over the current fiscal year — reflecting a property premium reduction offset by increases in general liability and workers’ compensation lines. Council approved the renewal by voice vote; staff said the selections were recommended given recent market stabilization and the trust’s pricing.