What is the estimated range for initial insurance premiums for a Counselor Realty franchise?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
- If you do not already carry acceptable coverage, initial premiums for required insurance are estimated to be approximately $1,500 to $6,000 per year. The cost of other coverages, including your discretionary purchases, varies widely.
- E. The costs that are incurred to develop a franchisee's website vary based upon the following: size of office (number of agents, size of territory, content required by franchisee) and cos
Source: Item 7 — INITIAL INVESTMENT (FDD pages 13–15)
What This Means (2025 FDD)
According to Counselor Realty's 2025 Franchise Disclosure Document, the estimated initial insurance premium costs range from $1,500 to $6,000 per year. This figure covers the required general liability and errors and omissions insurance. Counselor Realty mandates general liability insurance with a minimum limit of $1,000,000 per occurrence and $2,000,000 in the aggregate, along with errors and omissions insurance with a minimum limit of $1,000,000.
Prospective franchisees should note that this range is an estimate for the initial premiums only. The actual cost may vary depending on factors such as the specific insurance provider, the franchisee's location, and the level of coverage chosen. The FDD also mentions that franchisees must maintain other insurance required by law and by their office lease or mortgage, suggesting that the total insurance expenses could exceed the stated range.
It is important for potential Counselor Realty franchisees to obtain detailed insurance quotes to accurately assess their expected costs. They should also consult with an insurance professional to ensure they have adequate coverage to meet the franchisor's requirements and protect their business from potential liabilities. Understanding the full scope of insurance obligations is a critical part of evaluating the overall financial investment in a Counselor Realty franchise.