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Small Business General Liability Insurance Rates For Premiums And Audits? |
The small business that I line for is currently shopping for a GL carrier and in getting quotes, questions are coming up that I principled cannot find the answers for. Our current GL company basis our premium on our policy year payroll. However, one comrades that we are getting a quote from is basing the quote on the policy year gross return. Now, these two numbers are VASTLY different and I don't know why one is basing my premium on one item and another throng on another item.
Another
| Answer: Each corporation is allowed to base premiums on whatever they want. So yes, one company might use payrolls, one might use gross sales. Open and above-board footage is possible, and "unit" is possible, and there's also a thing called an "a" grade, where the underwriter makes it up. When comparing quotes, you have to know several things: 1. what is the real RATE, and 2. what is it based on. You also need to know the "minimum appreciation a scarce". |

