The URL can be used to link to this page

Home My WebLink AboutR-2014-076 Purchase Flood Insurance from Hartford for 1001 Argosy Parkway RESOLUTION NO. R — 2014-076 A RESOLUTION AUTHORIZING THE PURCHASE OF FLOOD INSURANCE FROM THE HARTFORD INSURANCE COMPANY OF THE MIDWEST FOR PROPERTY LOCATED AT 1001 ARGOSY PARKWAY IN AN AMOUNT NOT TO EXCEED $11,563.00 WHEREAS, the City of Riverside has a need for flood insurance coverage at 1001 Argosy Parkway; and WHEREAS, the City of Riverside in the adoption of its purchasing policy requires all expenditures in excess of$10,000 to be presented to the Board of Aldermen for approval and the City's insurance carrier for flood insurance required at 1001 Argosy Parkway has presented an invoice in the amount of$11,563.00 for such insurance coverage; and WHEREAS, funds for such purpose were budgeted in the Fiscal Year 2014-2015 budget; and WHEREAS, the Board of Aldermen find it is in the best interest of the citizens of the City of Riverside to authorize acquisition of such insurance coverage and approve the payment to Hartford Insurance Company of the Midwest for flood insurance coverage for property located at 1001 Argosy Parkway, in an amount not to exceed $11,563.00. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE, MISSOURI, AS FOLLOWS: THAT, the acquisition of such insurance coverage and payment to Hartford Insurance Company of the Midwest for flood insurance coverage on property located at 1001 Argosy Parkway, in an amount not to exceed $11,563.00 is hereby authorized and approved; and FURTHER THAT the Mayor, City Administrator, or either of their designees, are hereby authorized to execute all documents necessary or incidental to this transaction and the City Clerk is authorized to attest thereto. PASSED AND ADOPTED by th6 Board of Aldermen and APPROVED by the Mayor of the City of Riverside, Missouri, the 6""day of August, 2014. or Kathleen L. R se ATT T. ' Robin Littrell, City Clerk POLICY NUMBER: 99012806252013 Hartford Insurance Company of the Midwest FLOOD INSURANCE RENEWAL PREMIUM NOTICE IMPORTANT: THIS FLOOD INSURANCE POLICY WILL EXPIRE: 9/05/2014 PAYOR NAME&MAILING ADDRESS PRODUCER NAME&MAILING ADDRESS uIuIPIIPhPlydllydrrhrlrrrrdirlhlr�lllrlgrllrgrq >002411 4317332 0001 092201 20Z CITY OF RIVERSIDE MISSOURI PRODUCER#:03668-00000-000-00001 -• 3950 NW VIVION RD COWELL INSURANCE GROUP INC RIVERSIDE,MO 64150-1502 10525 N AMBASSADOR DR STE 301 �JU L. 14 2014 KANSAS CITY,MO 64153-1284 (816)5874419 INSURED NAME LOCATION OF INSURED PROPERTY --_-- 1001 ARGOSY PARKWAY r CITY OF RIVERSIDE MISSOURI RIVERSIDE.MO 64150-0000 > i BUILDING DESCRIPTION: RESTROOMS If you are no longer responsible for the payment of the premium on this policy please notify your agent. > r COVERAGE DEDUCTIBLE PREMIUM OPTIONS BUILDING BUILDING 1. Option 1 includes a 10%increase in $215,400 $1,250 the amount of building coverage and A 5%increase in the amount of 1 $11,753.00 CONTENTS CONTENTS > contents coverage. $3,400 $1,250 v 0 COVERAGE DEDUCTIBLE PREMIUM OPTIONS 2. Option 2 is the amount of insurance BUILDING BUILDING r coverage currently in force. $195,800 $1,250 2 $11,563.00 CONTENTS CONTENTS $3,200 $1,250 NOTE:If payment is sent via Certified Mail,the postmark date is used as the premium receipt e� aq ensuring the earliest receipt date possible.Certified Mail can also be tracked at www.usps.com. �D-11J'�� C'A FEMA has revised some minimum deductibles.If you are affected,detailed information is enclosed. /I Please contact your insurance representative with any questions or policy changes. �ig If paying by CHECK,please detach and return bottom remittance portion with your pa�tnt�epclosed avelope. Print Date: 7/07/2014 " `IrN V v��O P PLEASE DO NOT STAPLE ay INSURED NAME&MAILING ADDRESS CITY OF RIVERSIDE MISSOURI PRODUCER 03668 000000000200001 2950 NW VIVIONRD RIVERSIDE,MO 64150-1502 POLICY NUMBER 99012806252013 RENEWAL EFFECTIVE DATE: 9/05/2014 .,Payment must be received by the due date to retain the Policy Effective Date PAYMENT DUE BY: 9/05/2014 SELECT COVERAGE OPTION: CHECK PAYMENT COUPON ONLY ❑ $11,7531 $11,563 Make(heck parable to: (See reverse side for credit card payment option.) HARTFORD FIRE INSURANCE COMPANY IhnhlJnJhlmhrllulJlnJIInJInhlndlnluJhl Please see the enclosed notice for important information HARTFORD FIRE INSURANCE COMPANY about your policy renewal. PO Bos 731178 Dallas,TX 75373-1178 990128062520131968211780011753000011563002 Important Information 1. The policy indicated on the reverse side will expire at 12:01 A.M. on the date shown unless the renewal payment is received by the Flood Insurance Processing Center within 30 days of the expiration date, in which case the policy will be renewed without any lapse in coverage. If payment is not received within 30 days of the expiration date, the policy may be renewed and a thirty-day waiting period, commencing from the date premium is received, will apply before coverage is effective. 2. CERTIFIED MAIL— In those cases where the renewal premium payment and this notice are mailed to the Flood Insurance Processing Center via Certified Mail, the date the premium was mailed will be considered the date of receipt. 3. If the premium is not received by the expiration date, any mortgagee of record for $ the insured property, as indicated on the Policy Declarations Page, will be provided written notice of expiration. 0 0 0 4. Replacement cost coverage is provided under the Standard Flood Insurance Policy Dwelling Form for a SINGLE FAMILY DWELLING, which is the insured's Nprincipal residence, provided the amount of building insurance is at least 80%of o the replacement cost value of the structure at the time of loss or is the maximum coverage amount available under the National Flood Insurance Program, M whichever is less. This applies to building coverage only. Please contact your agent for details. o 5. To avoid a co-insurance penalty, buildings insured under the Residential Condominium Building Association Policy must be insured within 80%of the replacement cost value of the building at the time of the loss. Please contact your agent to review the coverage amount and replacement cost of the building to ensure the building is not underinsured. 6. If the payor information on this form is incorrect,please notify the agent immediately. The agent should be advised to notify the Flood Insurance Processing Center of the correct payor name. REGO507 Manage Your Flood Insurance Policy Online To better serve our valued policyholders, we are pleased to offer an online policy management option. Accessing the online management system is easy, simply follow the steps below: Q 0 0 1. Go to www.MyFlood.com 0 0 N 0 2. Complete the required fields to login M r N r 3. Follow the prompts to: m • pay your flood insurance renewal bill online N • review all policy payment transactions • view and print your policy declaration page or renewal notice • review your open claim summary page • bookmark MyFlood.com to visit us again my � + 6 ,00 9�0> oofho .ou3> ofo »a 5 ooN. >>�phn ..yo; oioo o<S'o 'o m . roo4o oo<> >ooso5 'So 05 yX> 92201 online NEW: Minimum Flood Insurance Deductibles $ Effective June 1 , 2014, 0 s increased minimum deductible amounts apply to your property and/or flood insurance coverage. s N n O O N M m a ► YOUR NEW DEDUCTIBLE AMOUNT* is displayed on the enclosed renewal offer. Contact your agent to review your flood insurance coverage and deductible options. 'Deductible amounts and factors are determined by the National Flood Insurance Program (NFIP)which is administered by the Federal Emergency Management Agency(FEMA). Catalog#92201_MIN_DED