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Old 09-01-2003, 06:02 PM
zrider441 zrider441 is offline
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Join Date: Aug 2003
Location: Raleigh, NC
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Insurance cost & issues

This is my 2nd year in business. I am part time with 10 small to medium commercial accounts. I obtained a $ 500,000 liability and $ 13,000 in equipment thru Nationwide (I have all my other insurance with them). The cost is $ 850.00/year.

I did a search and see that insurance cost vary. I thought about
shopping for a better rate. Last Friday, I received a notice from an independent Auditor that they had been hired to perform an audit of my company. They want to see all my records, income, payroll, tax forms. I called the auditor and she informed me it was standard practice. Unfortunately, it was late on Friday and my agent had already gone home.

Have any of you had to go through this? My policy premium is due on 9/12/03 can anyone suggest an alternate insurance company?
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Old 09-01-2003, 06:08 PM
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mdb landscaping mdb landscaping is offline
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Location: Glastonbury, CT
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are they nationwide auditors? i get a call once a year from them and they just ask what services i perform and how much i make a year. if its a nationwide audit your talking about, its no big deal. this is usually done over the phone, so im not sure if im talking about the same thing?
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Old 09-01-2003, 06:11 PM
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DUSTYCEDAR DUSTYCEDAR is offline
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i give them my acc. number and thats all just want to know what u are up to happens every year. # of employees stuff like that
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Old 09-01-2003, 06:32 PM
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rodfather rodfather is offline
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Location: Clinton, NJ
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I have used Nationwide the last couple of years and yes, it's SOP. Actually, all I have ever gotten is a form mailed to me and then it takes about 5 minutes to fill it out and send it back. Pretty simple and straightforward.
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Old 09-01-2003, 07:08 PM
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tiedeman tiedeman is offline
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ahh...an audit...some can be fun and some can be fun
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Old 09-01-2003, 07:39 PM
zrider441 zrider441 is offline
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I appreciate the responses. The auditor is an independent hired by Nationwide and she had set a date for a visit. I plan to call my agent on Tuesday. I do not want to take off work for a visit between the Hours of 10:00 and 2:00.

I plan to see if I can do it via the mail or phone.


thanks
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