What is the minimum aggregate amount of commercial general liability insurance coverage required for a Fly Fitness franchise?

The 2024 Fly Fitness Franchise Disclosure Document does not specify a minimum aggregate amount of commercial general liability insurance coverage required for franchisees. However, it does state that prior to operating any vehicle on behalf of the franchised business, franchisees must obtain comprehensive automobile liability insurance in the amount of at least a combined single limit for bodily injury and property damage of $1,000,000, or greater if required by state law.

Fly Fitness franchisees are also required to maintain worker's compensation coverage in the limits required by state law, as well as such other insurance as may be required by statute or rule of the state in which the Franchised Business is located and operated. Additionally, franchisees must carry fire, vandalism, and extended coverage insurance for property damage with primary and excess limits of not less than $50,000 or the full replacement value of the leasehold improvements, equipment, furniture, fixtures, vehicles, and inventory, whichever is greater.

It is important to note that Fly Fitness reserves the right to increase the required minimum requirements for any type of insurance or add additional types of insurance requirements as it deems reasonably prudent. Franchisees are responsible for ensuring that all required insurance policies name Fly Fitness and its affiliates as additional insureds. Prospective franchisees should clarify the specific commercial general liability insurance requirements with Fly Fitness to ensure full compliance and adequate coverage.