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  • General liability premium audit document submission checklist
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General liability premium audit document submission checklist

Your general liability premium audit helps determine if your premium needs to be adjusted, to ensure that you are not paying more or less than necessary based upon your needed coverage. We want to help you prepare for your audit by outlining the documentation you will need to provide. There are two types of required documentation: 
 


A source document 
showing transactions or payments during your policy period 
 

This documentation should match as closely to your policy period as possible. For sales information, you can round to the first of the month. (It is acceptable to deviate from the policy period by up to 16 days.) 

For example: if your policy period starts and ends on June 15, you can provide gross sales for the year starting and ending on June 1 or July 1. 


A verification document 
such as tax forms that are used to verify the source documents 
 

This documentation might not match exactly with your policy period. If your policy period falls in the middle of the month, simply provide the most recent (or annual) tax reports that most closely aligns with your policy period.  
 

 

For your audit time period, provide sales information for one of the options below.

 Source documents 
(choose one)		Verification documents 
(choose one)
Option 1
  • Income statements/profit and loss statement
(None required)
Option 2
  • Sales journals - provide gross sales prior to any deductions, such as returns or discounts
  • General ledger
  • Federal tax returns
  • State sales tax returns
  • Income statements/profit and loss statement

Please note: Your auditor may ask for additional items as requirements vary by state. Contact your agent with questions. 

 

Go to our premium audit FAQs page

 

No

General liability premium audit document submission checklist

Your general liability premium audit helps determine if your premium needs to be adjusted, to ensure that you are not paying more or less than necessary based upon your needed coverage. We want to help you prepare for your audit by outlining the documentation you will need to provide. There are two types of required documentation: 
 


A source document 
showing transactions or payments during your policy period 
 

This documentation should match as closely to your policy period as possible. For sales information, you can round to the first of the month. (It is acceptable to deviate from the policy period by up to 16 days.) 

For example: if your policy period starts and ends on June 15, you can provide gross sales for the year starting and ending on June 1 or July 1. 


A verification document 
such as tax forms that are used to verify the source documents 
 

This documentation might not match exactly with your policy period. If your policy period falls in the middle of the month, simply provide the most recent (or annual) tax reports that most closely aligns with your policy period.  
 

 

For your audit time period, provide sales information for one of the options below.

 Source documents 
(choose one)		Verification documents 
(choose one)
Option 1
  • Income statements/profit and loss statement
(None required)
Option 2
  • Sales journals - provide gross sales prior to any deductions, such as returns or discounts
  • General ledger
  • Federal tax returns
  • State sales tax returns
  • Income statements/profit and loss statement

Please note: Your auditor may ask for additional items as requirements vary by state. Contact your agent with questions. 

 

Go to our premium audit FAQs page