What is the minimum coverage limit required for Employer's Liability Insurance per accident for a Buona franchise?

According to Buona's 2025 Franchise Disclosure Document, franchisees are required to maintain Employer's Liability Insurance with a minimum coverage limit of $500,000 for each accident. This insurance coverage is specifically for employee bodily injuries and deaths. Additionally, there's a separate limit of $500,000 for employee disease.

This requirement means that if a Buona franchisee's employee is injured or dies in an accident related to their employment, the insurance policy must cover up to $500,000 in damages. Similarly, if an employee contracts a disease, the policy must cover up to $500,000. These coverage amounts are the minimums required by Buona, and franchisees may choose to obtain higher coverage limits for added protection.

It is important to note that this insurance must be obtained on or before the date the franchisee hires any employees. Failing to secure this insurance coverage could leave the franchisee personally liable for any employee injuries, deaths, or diseases that occur during the course of employment. Franchisees should consult with an insurance professional to ensure they obtain adequate coverage to meet Buona's requirements and protect their business.

Franchisees must ensure that the insurance company providing the policy is satisfactory to Buona. Furthermore, Buona reserves the right to increase the minimum limits of insurance coverage or otherwise modify the insurance requirements at any time during the term of the agreement. Franchisees are also responsible for paying any deductibles from insured claims under their policies.