Is a $1,000,000 umbrella policy required or recommended for Byrider franchisees?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
s than $1,000,000 per occurrence.
Byrider Franchising Partners also recommends, but does not require, that you purchase an umbrella policy in the amount of $1,000,000 over and above all liability coverage.
It is further recommended that you carry vehicle Title Errors and Omissions Coverage, Federal Odometer Coverage, Equal Credit Opportunity Act and Deceptive Sales Practices Coverage in the amo
Source: Item 8 — Restrictions on Sources of Products and Services (FDD pages 36–40)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, Byrider Franchising Partners recommends, but does not require, that franchisees purchase a $1,000,000 umbrella policy. This umbrella policy would provide coverage over and above all other liability coverage the franchisee is required to maintain.
In addition to the umbrella policy, Byrider Franchising Partners also recommends that franchisees carry vehicle Title Errors and Omissions Coverage, Federal Odometer Coverage, Equal Credit Opportunity Act, and Deceptive Sales Practices Coverage. The recommended amount for each of these policies is $1,000,000.
Byrider franchisees are required to maintain several types of insurance coverage, including Garage Liability Insurance with a $1,000,000 limit per occurrence, State Required Worker's Compensation and Employer's Liability Insurance, Unemployment Insurance, Truth-in-Lending Act Insurance of not less than $300,000, All Risks Coverage Insurance, and Cyber Liability Insurance of not less than $1,000,000 per occurrence. Franchisees must ensure Byrider Franchising Partners is named as an additional insured on all required policies and receives at least 30 days' written notice of any changes to the policies.