The Effingham County Board of Education will have some unexpected savings in its 2014 budget.
By a 5-0 vote, the school board approved Dasher Insurance as the new insurance provider for the district’s fleet of buses and utility trucks.
Dasher’s annual premium bid of $95,488 was the lowest of the five bids submitted and was less than half the amount the school board budgeted for fleet insurance coverage for the coming year.
“We did budget extra, so there will be a little extra money left there in the budget,” said Superintendent Randy Shearouse.
The Effingham County School System needed a new fleet insurance provider after State Farm announced, as of February, it will no longer offer school bus insurance coverage. The school system’s premium with State Farm was $85,000.
School officials anticipated a significant rate hike with a new provider and budgeted a little more than $200,000 for next year.
“We’re fortunate that it did not increase that much,” Shearouse said. “It’s very good news for the budget.”
Dasher’s bid came in just below Solomon, Deaton & Buice’s of $95,941. Other bids were from Wells Fargo ($107,427), Liberty Mutual ($141,591) and DeWitt Insurance ($164,150).
Dasher Insurance is based in Springfield.
“I’m just so thankful we can keep it local,” board member Mose Mock said.