What is the minimum per occurrence limit for the umbrella coverage required for a Craters & Freighters franchise?

According to Craters & Freighters's 2025 Franchise Disclosure Document, franchisees are required to maintain umbrella coverage with a minimum limit of $1,000,000 per occurrence. This umbrella coverage must be at least as broad as the required underlying coverage.

In practical terms, this means that a Craters & Freighters franchisee must secure an insurance policy that provides an additional layer of liability protection beyond the limits of their other required insurance policies. This umbrella policy would cover claims that exceed the limits of the franchisee's general liability, auto liability, and employer's liability insurance.

Craters & Freighters also advises franchisees to consult with a licensed insurance agent or broker to determine if additional coverage is necessary for their specific business needs, including but not limited to warehouse storage and cyber insurance. Meeting these insurance requirements is crucial for protecting the franchisee's business and personal assets from potential financial losses due to unforeseen events.