Miller's Insurance Agency, Inc

If you are self employed you need to understand the need and concept of the insurance audit. Most General Liability and Worker’s Compensation Policies are auditable. When a GL or WC policy is written it is normally based on an estimated exposure. At the end of the year the insurance company has the right to go back and adjust your premiums based on your actual exposure. It is basically pay now or pay later. It is really important that you have an accurate estimate going into the policy period. The reason for this is most people don’t understand that at audit time you actually can get hit twice. First they will go back too the prior year and adjust the estimated exposure (could be payroll, sales, number of units etc) with the actual exposure. However then because of the timing the new policy period has already started. They will then go too the new year and adjust the estimated payroll for the new policy period. Unexpected large audits are big reason for upset clients. And it can be controlled by making sure your estimated exposures are accurate thru out the year. Some companies are now coming out with pay as you go worker compensation policies. You would actually pay your worker compensation premium when you do your payroll. Knowing and understanding the audit process is a key too being successful. http://auto.erieinsurance.com/insurance-audit-information.pdf

As we all know this winter has been the snowiest of our lifetimes. Every homeowner knows to shovel thier driveway and sidewalks to protect thier family, guests and neighbors. Shovels, rock salt and a few able bodies will do the trick. However how do you protect your home from one of winters biggest dangers? Ice Damming is one of the most common claims we see each winter. Knowing how to spot them and how to safely remove them is half the battle. The following article discusses how to know if you're in danger and what to do about it. Read more