504 S Fairfield DriveSuite A-1Pensacola , FL 32506

Insurance professionals that have your back

Call Us 850-457-3299


We are happy to assist you in selecting the best coverage.

Get a Quote


We get you the right coverage for the right price.

Get a Quote


We offer free quotes and dedicated personal service.

Get a Quote
Home » Ask Gina – Premium Audit
December 6, 2019

Ask Gina – Premium Audit

Q:  Hey Gina, what is a premium audit?

A: Premium audits are commonly performed on General Liability, Liquor Liability and Workers Compensation policies. This is an audit of the exposure basis for an insurance policy (i.e., payroll, sales, or vehicle count) after the end of a policy period to determine the actual (audited) exposure for the purpose of making a final calculation of the premium and premium taxes.

By auditing these policies, the insurance company can make sure that your business pays the correct premium based on the exposure. Typically, information from the audit will generate either a bill or a premium refund.

Premium audits are usually requested within 60 days after the policy term expires and can be conducted by mail, over the phone or in-person. For in-person audits, the auditor will schedule an appointment and may ask to review your records.

Your independent agent will discuss the audit process with you when you originate your policy and they are always available to help you answer any questions you have or to suggest ways that you can successfully navigate the premium audit process.  For more answers to your insurance questions, call Coggins Insurance today at 850-457-3299.

Categories: Blog