Audits & Inspections
As a business grows, the premium for the insurance policy may change. At Zoom Professional Services, we make sure that the accurate premium is paid by officially examining financial records.
What to expect during an Audit if you are an insured:
When your policy was issued, your premium was based on estimated figures. After the expiration of your policy, Zoom Professional Services will send an audit via mail to verify that your estimations match up to what actually occurred during the time frame of your policy.
Inside the mailing, you will find a letter explaining the audit process and a questionnaire. You will need to fill out the questionnaire in its entirety using accurate figures. On the last page of the form, a financial document is requested and required. We accept any of the following financial documents:
- Profit & Loss Statements
- Tax Returns
- Bank Statements
- General Ledgers (if applicable)
- Job Invoices (if applicable)
Please note that your documents may not be accepted for the following reasons:
- The financials are handwritten
- Your financials do not look accurate
- The figures do not add up
- The information provided is not for the correct time frame of your policy
Audits can take anywhere from days to a couple weeks to complete. Our experienced team of auditors will go through your information in detail to compare your figures. After the audit is completed, you will either receive an invoice for additional premium owed or, you will receive a completion letter verifying that your numbers were in line. We ensure that the rates on your audit are always competitively priced and a team member is always here to assist you with any inquiries.