What is the minimum aggregate limit for general liability insurance for a Burros Fries franchise?

According to Burros Fries's 2024 Franchise Disclosure Document, franchisees must secure and maintain general liability insurance with a minimum aggregate limit of $4,000,000. This insurance policy should encompass general tort, premises damage, personal advertising injury, and product liability coverage, protecting the franchisee from damages resulting from injuries caused by the products they distribute.

In addition to the aggregate limit, the policy must also have a per occurrence limit of $2,000,000. Furthermore, Burros Fries requires franchisees to list them as an additional insured on all insurance policies. This requirement ensures that the franchisor is also protected under the franchisee's insurance coverage.

It is important to note that Burros Fries reserves the right to modify the required minimum coverage limits, including increasing them. Franchisees are also responsible for obtaining other types of insurance, such as property and casualty insurance, employer liability insurance, automobile liability insurance, business interruption insurance, and workers' compensation insurance, each with its own minimum coverage requirements. Franchisees should consult with their insurance advisor to determine the appropriate types of coverage and coverage limits needed to adequately protect their Burros Fries business.