The Urbana Free Library Board of Trustees voted July 8 to pay the library’s insurance premium to Cincinnati Insurance, and trustees were told the coverage will be broadened to include the Tepper and Marrow buildings now moving through the city system.
Staff said the exact premium amount was not available at the meeting but that it would be “a bit over $10,000.” Library leadership told trustees they did not expect a large increase in the insurance premiums after adding the two buildings to the coverage.
A trustee asked whether an upper-limit figure was available before the vote; staff responded that they expected the cost to stay “on track” and were not anticipating a substantial premium increase. The motion to pay the insurance bill passed by voice vote with no recorded opposition.
The board did not set an explicit upper authorization amount at the meeting; staff said the insurance purchase would proceed to cover the additional properties while city processes for transferring those buildings continue. There was no extended discussion of policy limits, deductibles, or carrier terms during the meeting.
Trustees asked for a ballpark figure and were given only the estimate “a bit over $10,000.” The board’s action authorizes payment of the premium; staff will follow up with exact figures and policy documents if requested.