When the insurance provider comes to audit your premiums, they will be more interested in the changes that occurred in your business. As such, you will need to provide records of your business operations for the policy period. The insurer will then compare these records against what you predicted for your business and make the necessary changes in your premium in case they don’t tally. Therefore, the best way to prepare for a premium audit is to have the following records in place: Sales records – The insurer will be interested in knowing if there have been any changes in your sales. As such, provide accurate records of your sales, including income statements and returns. Payroll records – Here, present the records of your workforce payments, including the number of working hours, type of work done, overtime payments, and other payroll details. Subcontractor records – If you hire subcontractors in your business, ensure you ask for their certificates of insurance. Additionally, track their payments by work done and keep other essential details. Take note that some insurance companies may ask for more information than these, and hence, be flexible.