What are the minimum bodily injury liability insurance limits required for Exit Sales Representatives for one person in a single accident?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
** will be the broker of record on all real estate transactions, consistent with the requirements of applicable law and industry standards, Sales Representative shall follow all procedures and use all disclosure statements, business contracts and other forms prescribed by EXIT [Trade Name]. Sales Representative shall maintain its real estate license with EXIT [Trade Name] and shall comply with all state real estate practice licensing requirements.
- k) Insurance. Sales Representative shall acq
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, Sales Representatives must maintain automobile liability insurance. The minimum coverage must include bodily injury liability insurance with limits of at least $250,000 for any one person involved in a single accident.
Alternatively, Sales Representatives can opt for a combined single limit of liability coverage of at least $1,000,000. The insurance coverage may be added to the Sales Representative's existing automobile insurance policy.
It's important to note that the required insurance amounts could be higher if mandated by state law. Therefore, Sales Representatives should verify the specific requirements in their state to ensure they meet the minimum liability coverage.