The Best Way to Mitigate Insurance Premium Overcharges
The world of insurance is based on estimates and foreseeable costs, and commercial insurance is no different. However, business activity can be quite difficult to approximate, which can lead to overcharging or undercharging in premiums. For this reason, it is estimated that between 25% and 50% of all business owners with insurance policies have been overcharged at some point during the insurance premium auditing process. Contextualizing this into the general liability insurance, of the $55-$60 billion spent on premium cost, as much as 20% is lost to premium leakage. So what’s the best way to prevent your business from getting overcharged in insurance premiums?
Companies that assist with policy audits, like AdvoQates have a team of experts to help analyze your policy. They do this by looking over your business documentation to identify any deductions and exemptions that can lower your insurance premiums. On top of that, they submit these results so that the insurance policy auditor can consider them and have any potential questions resolved easily. They even contact the policy auditor on your behalf so you can keep focusing on running your business. Regardless of what type of business you run, taking advantage of companies like AdvoQates is the best way to simplify commercial insurance and make sure you get the best rate.
