Alvin ISD trustees are set to consider property insurance for the 2026-27 fiscal year, with a recommended decrease in premium. The district’s officials are recommending the board award the insurance to Houston-based firm Arthur J. Gallagher Insurance.
Details of the Proposal
If approved, the estimated premium would decrease by nearly $430,000, as the district’s premium cost for fiscal year 2025-26 was over $5.875 million. The reduction is due to a $0.015 decrease in the property insurance rate, which will decrease from $0.267 to $0.25 per $100 of total insured value, or TIV.
AISD’s TIV is decreasing by over 0.8% due to Walt Disney Elementary no longer needing to be insured, district documents note. The trustees will meet for a special meeting at 5:30 p.m. June 23 at the Tommy King Administration Building, located at 301 E. House St., Alvin.
Original reporting: Community Impact — Houston — read the source article.