I Remember my first workers comp audit about a year after I started my business. The auditor showed up to my house unannounced, rang the bell and said “ I been trying to get in touch with you for you audit.” This was news to me. I had no idea we would get audited or they could show up to my home unannounced. So we scheduled for a later date. He told me what I needed to have for the audit then he left. Fast forward two weeks he shows up, looks over my paper work and says “based on your payroll amount you owe an additional 9 Thousand dollars in premium”. I was furious, scared and confused. Turns out my agent didn’t exempt one of my partners and my subs didn’t have their own workers comp so I had to pay for it. My agent fixed the mistake and exempted the officer but I still had to pay over 5 thousand dollars for my subs. This situation could have been easily avoided. Had the agent properly explained I would get an audit and if my subs didn’t have coverage I would have to pay for it.

After this experience I decided to learn as much about insurance as possible and get my License. This way I could make sure my business has the right policy for the right price. Now I wanna give other business owners the same experience. If you resonate with this or are in a similar situation, reach out get with an agent who’s been in your shoes. Starting a new business let us make sure this doesn’t happen to you.