Insurance audits?

[KevinL]

Do any of you guys get these yearly insurance audits? They want to know about income, employees pay, services performed and other bs. Does your insurance make you fill these out?

 

[bob vawter]

they have "trick" questions...!

 

[handdi]

yes

 

[Charlie Lyman]

no, I have Farmers.

 

[charles]

Yes, every year.

 

[ronbeatty]

Every couple of years :roll:

 

[Mike Draper]

I tell them because of the economy, our business went wayyyyy down. then I ask if they are going to reduce my insurance premium because I'm a BDCC. Just like property taxes, it will never go down.

 

[Becker]

Yes every other year now.. use to be yearly.

State farm

 

[Jerry McMahon]

It depends on your underwriter if its every year or not. I think alot of them are done when your policy is up for renewal. Some have you just send the info and others have an auditor come to your place of business.

This is what my wifes been doing for years. She just loves it when you actually have the info rdy

 

[Gary Taylor]

Every year at renewall they have fill out a form. Sometimes there is a follow up call.

 

[Mike Draper]

MY 2nd year in business the guy called to make an appointment with me face to face. I didn't know what the hell i was doing so the guy showed up at my house with some trick questions. IT was complete bullshit!

 

[Doug Cox]

Hasn't happened for at least 15 years now.

 

[daniel@procarpet]

Insurance sucks.

 

[Lee Stockwell]

Almost every year since 1981. Scary first time, but routine now. Nothing like IRS audit, only one of those in 30 years.

 

[Steve in Omaha]

Hasn't happened for at least 15 years now.

Ditto, no claims either..knock on wood. Maybe let sleeping dogs lie.

 

[Dolly Llama]

[quote="Doug Cox":50h6n8kv]Hasn't happened for at least 15 years now.

Ditto, no claims either..knock on wood. Maybe let sleeping dogs lie.[/quote:50h6n8kv]


me three

only once is about my 3rd year of biz
and mine was done over the phone

...L.T.A.

 

[Lee Stockwell]

mine always over the phone...wife handles it usually. Has to do with WComp mostly.

 

[J Scott W]

Always an annual audit for workman's compensation insurance. The premium was always based on estimated payroll for the coming year. Sometimes I got a few dollars back after the audit. Also learned a lot about how to categorize various work to get the lowest rates.

Some other premiums also based on annual sales or payroll, so they often had audits as well. Standard operating procedure.