Free Insurance Premium Audit Worksheet

At binding, the insurer rates the policy against an estimate of your exposure — payroll, revenue, power units, or miles — and charges a deposit premium on that estimate. After the period ends it examines your records and recomputes the premium on actual exposure. The difference is billed as an additional premium or credited as a return premium. The worksheet exists so you arrive at that recomputation with your own figures already reconciled.

Whatever substantiates the exposure basis on the declarations page: payroll registers and quarterly returns where the basis is payroll, the unit schedule and registration records where it is power units, IFTA or telematics mileage where it is miles, and the general ledger revenue summary where it is gross revenue. Name the record on the line it supports, because an auditor who cannot tie your figure to a document will use their own.

Because the estimate is set at the start of the term against the fleet you had then, not the fleet you ended with. Units added mid-term, a driver headcount that grew, and revenue that beat plan all raise actual exposure while the deposit premium stays where it was set. Pulling the actuals quarterly rather than at audit is what turns the true-up from a surprise into a number you already knew.

No. It is a contractual right the insurer holds under the policy's audit condition, not an obligation imposed by the FMCSRs or any other federal rule. Which exposures are auditable, which records you must make available, and how long after expiry the insurer may audit are all answered by the policy wording and nowhere else.