Ready to hear some bad advice? Here are some of the worst claims about insurance that we’ve heard…
Ever considered going without insurance because the payments were too high for your tastes? Read ahead for tips on how to shop around and get a better deal on your insurance!
What it is?
Insurance audits are typically performed on commercial insurance policies providing auto, general liability, garage liability, umbrella and workers compensation coverages. When these policies are issued, you are asked to pay an estimated premium. Estimated premiums are based on the nature of your business and your estimate of exposures (i.e. payroll, sales, etc.) for the policy period. Once your policy expires, an audit is conducted to collect information on actual exposures and operations and then determine the final premium.
Topics: Umbrella Insurance