Premium Audit Basics

Most people cringe when they hear the word “audit.” Don’t worry; Texas Mutual’s premium audit department is working for you. Their goal is to ensure your premiums are accurately calculated based on your actual payroll and classification of your business operations.

This page provides basic information about premium audit. If you still have questions, check our FAQs, see our glossary of premium audit terms, or call us at (800) 859-5995.

What is a premium audit?
Our underwriters base your premium on an estimate of your payroll for the upcoming policy term. A premium audit is conducted after the policy term expires. The process involves an examination of your financial records to determine your actual payroll and ensure your operation is properly classified. This may result in an adjustment to your premium based on the findings of the audit.

Why is it necessary?
Texas Mutual is committed to making sure you pay an accurate, fair premium for your coverage. Premium audit helps us accomplish this.

Will an auditor come to my office?
Maybe. Texas Mutual conducts several types of audits, including in-person audits and telephone audits. Some policyholders complete self-audits online or on a paper form. The type of audit we conduct depends on the nature of your business.

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