What minimum combined single limit per occurrence is required for Automobile Liability Insurance coverage, both bodily injury and property damage, if I conduct motor vehicle service or repairs at the Aplus Premises?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
ion and hold harmless provisions of Section 2.16, subject to the Commercial General Liability Policy's standard terms and conditions.
- (2) WORKERS' COMPENSATION (COVERAGE A) AND EMPLOYER'S LIABILITY (COVERAGE B) INSURANCE
Coverage A – Statutory Limits
Coverage B - Limits of at least:
$500,000 Each Accident
$500,000 Disease-Policy Limit
$500,000 Disease-Each Employee
- (3) EXCESS LIABILITY INSURANCE coverage with minimum limits of at least $500,000 per occurrence in excess of the coverages described in subsections (1), 2(b), and (4).
- (4) ALL RISK PROPERTY INSURANCE co
Source: Item 23 — RECEIPT (FDD pages 68–302)
What This Means (2024 FDD)
According to Aplus's 2024 Franchise Disclosure Document, if you conduct motor vehicle service or repairs at the Aplus Premises, you must maintain Automobile Liability Insurance coverage for both bodily injury and property damage. The minimum limit for this coverage is $500,000 combined single limit per occurrence.
This requirement ensures that Aplus franchisees have sufficient insurance coverage to protect against potential liabilities arising from accidents involving vehicles. This coverage is in addition to other insurance requirements, such as Commercial General Liability Insurance and Garage Liability Insurance.
It is important for prospective franchisees to factor in the cost of this insurance coverage when evaluating the overall financial investment required to operate an Aplus franchise, especially if they plan to offer motor vehicle service or repairs.