What is the minimum amount of General Liability Insurance required for a Budget franchise?

According to Budget's 2025 Franchise Disclosure Document, franchisees are required to maintain General Liability Insurance with a minimum coverage of $1,000,000 combined single limits. This insurance coverage is intended to protect both the franchisee and Budget against potential liabilities arising from the operation of the franchise.

In addition to General Liability Insurance, Budget franchisees must also maintain other types of insurance, including Fleet Insurance and Lessor’s/Owner’s Excess Liability Insurance, each with its own minimum coverage requirements. Fleet Insurance requires $100,000 / $300,000 bodily injury and $50,000 per occurrence for property damage, or such other amounts as are required by local law. Lessor’s / Owner’s Excess Liability Insurance requires $1,000,000 combined single limit per occurrence.

Budget retains the right to periodically increase the required insurance amounts or mandate different or additional types of insurance to reflect factors such as inflation, changes in liability standards, higher potential damages, the franchisee's specific claims history, or other relevant circumstances. Franchisees are also obligated to provide Budget with an annual certificate of insurance, naming Budget and its affiliates as additional insureds, and ensuring that the insurer waives any subrogation rights against Budget. Budget may also receive fees or commissions for endorsing certain insurance carriers or programs for supplemental liability and related insurance sold to rental customers.