Several Upsala buildings receive new valuation on insurance policy renewal
By JENNIE ZEITLER, Staff Writer
Karin Nelson of Nelson Insurance presented to the Upsala City Council Monday the results of a building audit by the Minnesota League of Cities.
As result of the audit, many buildings received a new value.
“The League is requesting pretty substantial increases on some buildings,” Nelson said.
“Some of the figures are the result of overshooting, but several buildings have been underinsured,” she said.
The policy features replacement-cost coverage for all city buildings. The values have been updated based on the size and contents of each building.
The library’s contents belong to the Great River Regional Library system, while the building belongs to the city.
Nelson did encourage the League to reconsider the number it set for a couple of buildings, but the League stood firm on its figures.
“Most of their numbers are not unreasonable,” she said.
“We are stuck with that news from the insurance agency,” said City Clerk Adrian Welle. “The company that assessed how much coverage we need doesn’t really understand how cheaply things can be built in rural Minnesota.”