Introduction:
An unexpected spike in your general liability insurance premium can be a cause for concern. If you’ve recently undergone a general liability audit and suspect inaccuracies, you’re not alone. At The Dane Group, we understand the complexities of insurance audits, and we’re here to guide you through the process of rectifying any discrepancies. In this article, we’ll explore the steps you can take to fix an incorrect general liability audit and highlight the importance of having a trusted insurance partner like The Dane Group by your side.
Section 1: Requesting the Audit Worksheet
If you suspect errors in your general liability audit, the first step is to request the audit worksheet from your insurance carrier. This document provides a detailed breakdown of the factors considered in calculating your premium. At The Dane Group, our experts can assist you in obtaining and comprehending this crucial document.
Section 2: Comparing Your Audit Worksheet to Provided Information
Once you have the audit worksheet, compare it meticulously to the information you provided during the audit process. Ensure that all relevant details, including payroll, sales, and classifications, align accurately with your business operations. Identifying discrepancies at this stage is crucial to rectifying errors in the audit.
Section 3: Excluding Sales Tax and Other Items
Review the audit worksheet to confirm that excluded items, such as sales tax and other non-insurable costs, are not included in the audit calculations. This step ensures a fair and accurate assessment of your insurance premium based on insurable items only.
Section 4: Excluding Office and Sales Staff Payrolls
Check that the audit accurately reflects only the payrolls of employees directly involved in the operations covered by your general liability insurance. Office and sales staff payrolls, unless engaged in covered activities, should be excluded from the audit totals.
Section 5: Drafting an Audit Dispute Letter
If you identify discrepancies, it’s crucial to address them promptly. Draft a clear and concise audit dispute letter detailing the inaccuracies you’ve identified and providing supporting documentation. The Dane Group can assist you in preparing an effective dispute letter that maximizes your chances of a successful resolution.
Section 6: The Importance of Hiring an Insurance Agent for Audits
Navigating the intricacies of a general liability audit can be overwhelming, which is why having an experienced insurance agent is invaluable. The Dane Group specializes in managing audits for our clients, ensuring accuracy and efficiency. With our expertise, you can focus on your business while we handle the complexities of insurance audits on your behalf.
Conclusion:
Rectifying an incorrect general liability audit requires attention to detail and a thorough understanding of insurance processes. At The Dane Group, we are committed to assisting you in this journey. From obtaining the audit worksheet to drafting dispute letters and managing the entire audit process, our team is here to ensure that your insurance premium accurately reflects your business operations. Visit our website at danegroupllc.com to discover how partnering with The Dane Group can provide you with the expertise and support needed to navigate insurance audits successfully.
