Freehold, New Jersey
4400 US Hwy 9 S. , Suite 3300
Freehold, NJ 07728
732-972-1771

Big Audit Bill? Monmouth County’s Top Business Insurance Agents Will Help February 9, 2016

Freehold, Monmouth County
Big Audit Bill? Monmouth County’s Top Business Insurance Agents Will Help, Freehold, New Jersey

Many businesses do not fully understand the insurance auditing process, which can result in hefty bills to pay further down the line. While some businesses feel the audit experience is a nightmare, the professionals at NorthEast Insurance Services in Englishtown, NJ, guide you in the process to save you time and money.

Whether your business is food manufacturing or producing plastic products, at regular intervals you will have to go through an insurance audit. Basically, this audit looks at information such as your company's payroll, receipts, units, and other accounting books. This information is only used for insurance rating purposes.

The mistake that a lot of businesses make is underestimating their earnings to keep their insurance premium down. Then the following year, when their books are audited, they receive a recalculated bill that reflects their actual revenue and is much higher than they expected.

Business Insurance

If you see a significant increase in your business insurance rates, your agent is not doing a good job for you. The right agent educates their clients properly about the auditing process to ensure that they won't be handed huge bills later on.

Intentionally misrepresenting your earnings for a lower insurance premium is fraud - don't do it unless you don't mind going to jail. 

For a trustworthy insurance agent in Monmouth County who will act as your advocate, turn to NorthEast Insurance Services. They work with a wide range of industries, including food manufacturing, franchises, metal fabricators, and manufacturers of technology products. Better understanding your business insurance will be easy with their experienced agents. Call (732) 972-1771 today or visit their website to learn more about their services.

Other Announcements, Events and Deals from NorthEast Insurance Services
What Is Manufacturers Insurance & Who Needs It?, Freehold, New Jersey
Starting and running manufacturing facilities and machine shops require significant outlays for buying and renting equipment and space and hiring qualified employees. As a ...read more
5 Common Reasons Why Fires are Started in Homes , Freehold, New Jersey
One of the most common causes of homeowners’ insurance claims is due to house fires. In fact, in 2016, there were over 300,000 house fires that resulted in such filings. To help you ...read more
Homeowners Insurance Professionals Share 5 Tips for Winter Safety, Freehold, New Jersey
Winter can be a particularly challenging time because the ice, snow, and cold weather lead to numerous issues and homeowners insurance claims. To help you avoid problems this se...read more
How to Choose the Right Health Insurance Plan, Freehold, New Jersey
Since the Affordable Care Act (popularly known as Obamacare) went into effect in 2015, U.S. residents have been required to purchase appropriate health insurance for themselves and t...read more
3 Insights to Know About Umbrella Insurance, Freehold, New Jersey
When it comes to getting insurance coverage, there's a fine line between finding the best policy for your needs while staying within your budget. And, when the unexpected h...read more