The smallest town in the state simply doesn’t have adequate liability coverage to honor its military veterans.
The town of Randolph, Maine, wanted to honor military veterans by flying American flags. However, the cost of insurance to cover potential liabilities is too high. Therefore, the smallest town in the state will be unable to fly American flags on their utility poles.
The liability insurance expense was too high for the budget associated with this project.
The Randolph Fire Association held a fundraiser around a year ago. This fundraiser was to cover the cost of flying 20 American flags. The flags would fly from the utility poles along the town’s traffic corridors.
However, the town of Randolph rents those poles. Technically, the poles belong to the utility companies. Therefore, the town needed to purchase coverage for the use of the poles. Unfortunately, the cost of insurance to cover potential liabilities was simply too high.
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The cost of insurance for up to $5 million in liability coverage is greater than the town can afford.
As a result, the flags were taken down from the utility poles. Town officials are required to purchase an insurance rider on their existing coverage to keep flying the flags. The liability insurance rider is not expensive. In fact, it was estimated to cost around $500. However, there isn’t any more money in the project’s budget. The fundraiser covered the flags and their installation, not liability insurance coverage.
Jim Kimball, a member of the fire association, made a statement on the subject. Kimball said that he can’t imagine why it the cost of insurance would be that high. The coverage is for utility poles that would fly American flags for three months. He explained that he couldn’t fathom what could possibly have driven the expense so high.
When all was said and done, the decision was made to remove the flags. The town simply does not have the additional funds allocated for this project and its insurance needs. This type of story is becoming increasingly commonplace as coverage needs evolve and grow. Public events have been noticeably affected by the cost of liability insurance over the last few years.