The cost of commercial insurance often varies based on payroll or sales. Your Southern Agency producer will work closely to forecast these numbers by asking your staff many questions. It is almost impossible to get this number exactly accurate upfront so that is why it is so important to stay in contact with us periodically and us with you. Our agency has invested in the necessary agency management software to allow you to view your policies easily and update us periodically with any changes in operations or functions that will change the business’ ultimate premium.
Many of our clientele will have divisions and each division may have separate premiums. For example, if your business is a machine shop, an electrical contractor, and a millwright, there will be a separate premium allocation for each these operations. Assigning proper allocations will be important, otherwise there will be misunderstandings and out-of-whack divisional profit and loss statements.
Your Southern Agency account manager will stay in contact with you to help monitor these budgets and prepare for your audit.