In 2016, the annual growth rate of U.S. startups was 75.62%. This shows just how much change a business can experience in just one year. While some enterprises scale with time, others downsize, lose revenue, and sell some of their assets. It is worth noting that personal insurance policies such as home and car insurance have more stable and predictable changes, unlike business insurance coverages. With this in mind, ensure the insurance company audits your business insurance premiums, especially if your business operations have significantly changed during the policy period. For instance, if you hired new employees, laid off some, bought new equipment, and expanded your business premises, a premium audit will be necessary to ensure that you’re paying accurate insurance costs. In other words, a business premium audit prevents you from either over-insuring or underinsuring your business.