City of Peoria Agenda City Council Meeting 2026-06-23
Peoria to renew Liberty Mutual property and auto insurance
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Description
The City of Peoria plans to renew its property and commercial auto insurance program with Liberty Mutual Insurance for the July 1, 2026 to July 1, 2027 term at an estimated premium of $570,377. The coverage will insure over $272 million in property, $43 million in vehicles and equipment, and more than $3 million in fine arts.
Contract Details
Contract Amount
$570,377
Vendor
LIBERTY MUTUAL INSURANCE
Agency
Town of Akron, IL
Contract Type
INSURANCE
Document Date
June 23, 2026
Contract Term
July 1, 2026 – July 1, 2027 (one-year term)
Renewal Date
2027-07-01
Renewal Info
Proposal indicates a 2026–2027 renewal with Liberty Mutual Insurance, reflecting a 14% decrease from the prior term due to reduced exposures and market pricing. Term is one year from 2026-07-01 to 2027-07-01.
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