What is the minimum aggregate amount of comprehensive general liability insurance coverage required for a Devon Creek franchise?

According to Devon Creek's 2024 Franchise Disclosure Document, franchisees must maintain comprehensive general liability insurance. This insurance must include errors and omissions coverage, personal and advertising injury coverage, either in the form of a general liability rider or as a separate policy. The minimum required coverage is $1,000,000 per occurrence and $2,000,000 in the aggregate.

This insurance requirement protects both the franchisee and Devon Creek from potential financial losses due to lawsuits or claims arising from the operation of the franchise. The specific coverages included, such as errors and omissions and personal and advertising injury, address common risks associated with running a business, such as mistakes in service or issues with marketing materials.

It is important to note that Devon Creek retains the right to increase the required minimum insurance limits or add additional types of insurance coverage as deemed necessary. Franchisees are responsible for providing proof of coverage that meets these requirements within thirty days of any such changes. Additionally, all required insurance policies must name Devon Creek, its licensor, affiliates, and their members, officers, agents, and employees as additional insureds, ensuring they are also protected under the franchisee's policies.