INSURANCEPENDING

FMIT Alternative #2 Exceeds Insurance Savings Target

The Village of Tequesta is reviewing FMIT’s Alternative #2 insurance structure for 2026-2027 at a premium of $905,327, which exceeds Council’s 10% savings target. The proposal raises the named storm deductible to 10% and maintains higher retained risk through deductibles and reduced property coverage.

Status
PENDING
Document date
July 31, 2026
Contract type
INSURANCE
Vendor
FMIT
Agency
Tequesta village · FL

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Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
$905,327
Contract type
INSURANCE
Contract term
2026-2027
Renewal date
2027-09-30
Renewal
Alternative #2 sets the 2026-2027 FMIT policy with reduced insured property values, a $10,000 workers’ compensation deductible, and a 10% named storm deductible to maximize premium savings. It offers the greatest savings among the presented FMIT options while significantly increasing the Village’s retained risk.
Document type
AgendaPacket
Source document
Village of Tequesta Workshop Meeting Agenda Packet 2026-08-03

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Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the insurance contract by Tequesta village?

FMIT was awarded this insurance contract by Tequesta village, as recorded on July 31, 2026. The contract value is $905,327.

How much is the FMIT contract with Tequesta village worth?

The FMIT contract with Tequesta village is valued at $905,327, covering insurance work.

What type of contract is this?

This is a Insurance contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Village of Tequesta Workshop Meeting Agenda Packet 2026-08-03 (AgendaPacket), dated July 31, 2026 from Tequesta village. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does FMIT hold?

FMIT may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Tequesta village currently buying?

Explore Tequesta village's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Tequesta village's profile

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