Construction Revenue & Payroll Classification

Are you properly classifying your revenues and payrolls properly?  If not, you may be grossly over paying for insurance.  It’s very important that you correctly classify your revenues streams, especially for general liability.  Otherwise, you may have an audit that picks up revenue that you should not be charged for.

For example, general liability does not cover auto liability.  Therefore, any revenue you generate purely on transportation should not be included in your premium.  Many times auditors themselves are unaware of how your policy is rated.  They just want to nail you for all the premium they can.

If your broker is not truly specialized in the construction and rigging industry, you may be getting overcharged.