What is the minimum general aggregate amount required for commercial general liability insurance for a Crawlspace Medic franchise?

According to Crawlspace Medic's 2024 Franchise Disclosure Document, franchisees must maintain commercial general liability insurance. This insurance must include contractual liability, public liability, and personal injury coverage. The minimum required coverage is $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 damage to rented premises coverage of $100,000.

In practical terms, this means a Crawlspace Medic franchisee needs to secure a comprehensive commercial general liability insurance policy that meets these minimum coverage amounts. The general aggregate limit of $2,000,000 represents the maximum amount the insurance company will pay out for all claims during the policy period, while the $1,000,000 per occurrence limit applies to any single incident. The additional coverage for products liability and damage to rented premises ensures that the franchisee is protected against specific risks associated with their business operations.

It is important to note that Crawlspace Medic requires the franchisee to name Crawlspace Medic, its officers, directors, partners, owners, employees, and affiliates as additional insureds and certificate holders on the policy. This protects Crawlspace Medic from liability arising from the franchisee's operations. Franchisees must also provide current Certificates of Insurance to Crawlspace Medic as evidence of coverage. Franchisees should consult with an insurance professional to ensure they obtain adequate coverage that meets Crawlspace Medic's requirements and protects their business from potential risks.