Originally Posted by FCPWLLC
Most don't realize that insurance rates are based on payroll/revenue etc.. Comparing numbers with new businesses or small biz with larger or older biz, we see differences.
In NC it is based on revenue brackets. i.e., $1 to $50,000, $50 to $100k, $100k to $250k, etc. Rates are substantially lower for companies that have been in business and with the same insurance company for a few years. I was with Nationwide for over 8 years, just switched to Farm Bureau and my rates went up a little.