Like the rest of us, insurance costs are taking a significant bite out of Chatham-Kent’s budget.
The cost of the municipality’s main insurance policy, purchased through Marsh Canada for the period from April 1, 2026 to April 2027, came in at just under $3 million.
But there’s a bit of good news, as it’s a 1.4-per-cent reduction from last year’s expiring premium.
According to C-K legal director Emily Crawford, the main policy covers property, liability, fleet and automobile, and errors and omissions, and the amount can fluctuate as assets are added or deleted.
In addition to the Marsh policy, the municipality’s social housing buildings are insured by Housing Services Corp. The current HSC premium cost, for the policy period of Nov. 1, 2025 to Nov. 1, 2026, was $201,628. That’s a slight decrease from the prior year’s policy even with the addition of a new social housing building added on to the policy.
Chatham-Kent also has separate policies that offer specialized insurance, including cyber liability insurance at a cost of $90,000 per year and aviation drone insurance at $3,258 per year.
