Where can I find more information about the 360 Painting insurance requirements?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
Insurance.
To satisfy our current insurance requirements, you must obtain certain insurance policies and minimum coverage amounts described in Item 8.
You may have to purchase additional coverage, either in dollar limits or types, if required by your state's laws.
Factors that may affect your cost of insurance include the value and age of your equipment, number of employees, your safety record and record of workers' compensation claims, record of liability claims and driving record.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 21–23)
What This Means (2025 FDD)
According to 360 Painting's 2025 Franchise Disclosure Document, Item 8 contains more information regarding the insurance requirements. Item 7 indicates that to satisfy 360 Painting's current insurance requirements, franchisees must obtain certain insurance policies and minimum coverage amounts described in Item 8.
The estimated initial investment for insurance ranges from $2,000 to $5,000, payable before opening to third parties. However, the actual cost of insurance can vary based on factors such as the value and age of your equipment, the number of employees, your safety record and history of workers' compensation and liability claims, and your driving record.
Additionally, franchisees may need to purchase additional coverage, either in dollar limits or types, if required by their state's laws. Therefore, it is important to carefully review Item 8 of the 2025 FDD and consult with an insurance professional to ensure you meet all the necessary requirements and have adequate coverage for your 360 Painting business.