What is the minimum amount of commercial general liability insurance, including contractual liability, public liability, and personal injury, that a Crawlspace Medic franchisee must maintain per occurrence?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
in the following minimum limits (except as additional coverage and higher policy limits may reasonably be specified from time to time in the Manual or otherwise in writing):
- 15.1.1. Liability. Commercial general liability insurance, including
contractual liability, public liability, personal injury, in the amount of at least one million dollars ($1,000,000) per occurrence, genera
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, franchisees must secure and maintain specific insurance policies throughout the term of their agreement. These policies are designed to protect both the franchisee and Crawlspace Medic, with Crawlspace Medic, its officers, directors, partners, owners, employees, and affiliates named as additional insureds and certificate holders.
The minimum coverage requirements include commercial general liability insurance, which covers contractual liability, public liability, and personal injury. The required amount for this coverage is at least $1,000,000 per occurrence, with a general aggregate of $2,000,000. Additionally, the policy must include products liability coverage of $1,000,000 and coverage for damage to rented premises of $100,000.
Crawlspace Medic franchisees are also required to maintain worker's compensation coverage, automobile liability coverage, and employer's liability coverage. Franchisees must provide certificates of insurance to Crawlspace Medic as evidence of their coverage and maintain these certificates at all times.