Five sections covering every document and decision point in a Florida contractor insurance audit. Each item includes a note explaining why it matters and what happens if it's missing.
Insurance carriers conduct workers' comp and general liability audits at the end of every policy year. The audit determines your final premium based on your actual payroll, revenue, and subcontractor activity — not the estimates used when the policy was written. The problem is that carriers have a financial incentive to find the highest possible auditable base, and their auditors are trained to find it.
The most common overcharges happen when subcontractor COIs are missing or expired (the carrier adds the sub's entire payroll to your base), when class codes are misapplied (higher-rated codes generate higher premiums), or when overtime exclusions aren't properly documented. Florida contractors who work with multiple subs across multiple projects are especially vulnerable.
This checklist covers every document you need to have organized before your audit — and every item you should verify on the audit worksheet before paying the bill. If you've already received an audit bill that seems higher than expected, Audit Monkey offers a free review to identify every disputable item.