Pay the right price for your insurance

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A premium audit helps insurance companies understand your business needs and ensures that your policy is fairly and accurately priced. At Integrity, our process is easy and allows you to focus on the important things, like growing your business.


How it works

Watch this video to learn how a premium audit works and what to expect.

Common questions about premium audit


An insurance premium audit is a review of your financial records. It is used to determine the correct premium amount for your policy. Audits are performed regularly to ensure that as your business grows or changes, your insurance remains accurately priced.



Workers’ compensation policies are audited every year. General liability policies may be audited less frequently, but they are always subject to audit.



Instructions and a checklist will be provided to you with the audit request letter. This will come from our audit partner.



Payroll
  • Payroll reports
  • 941s
  • Quarterly state unemployment filings

Sales
  • Income statements, sales journal, etc.

Subcontractors
  • Disbursement ledgers such as check registers, etc.
  • Certificates of Insurance


An insurance audit is a requirement of all insurance companies and is part of your policy conditions. If you choose to not complete the review, it may result in an Audit Noncompliance charge of two times the estimated annual premium of your policy.



Once the audit is processed, a statement will be created and mailed directly to you.


Documents you may receive for your premium audit

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Premium audit statement

This document will show the revised premium on your policy following the audit. It replaces the declaration page of the audited policy. It will outline the policy’s risk categories, rate and adjusted premium calculation. This statement impacts your billing account and invoicing, but it is not an account invoice or “bill.”
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Premium audit worksheet

This is an overview of the auditor’s report. It explains how the auditor came to the conclusions listed on the Audit Statement described above.
An account invoice attached to a clip board.

Account invoice

This document shows your account’s billing status. It includes premium changes from the audit, as well as other charges and payments for all of the policies listed on your account.
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Premium audit vendors

 

We use a vendor for most audits. You may receive a request from one of the following organizations:
Accelevant Premium Audit
Davies Risk Services

 

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Learn more
If you have questions about the process or results of an audit, contact your insurance agent.
Coverages described herein may not be available in all states. Please contact a local independent Integrity agent for complete details on coverages and discounts. If the policy coverage descriptions herein conflict with the language in the policy, the language in the policy applies. For the coverage to apply, a claim must be made and reported during the policy period. Scenarios above are not actual claims. The material provided above is for informational, educational, or suggestion purposes and does not imply coverage. WE RESERVE THE RIGHT TO REFUSE TO QUOTE ANY INDIVIDUAL PREMIUM RATE FOR THE INSURANCE HEREIN ADVERTISED. Integrity Insurance policies are underwritten by Integrity Insurance Company, an affiliate of Grange Insurance Company, and Integrity’s subsidiaries. Integrity companies not licensed in Pennsylvania. Not all Integrity companies are licensed in all states.