Who reviews and approves the deductible amounts for Healthsource Chiropractic's insurance policies?
Healthsource_Chiropractic Franchise · 2025 FDDAnswer from 2025 FDD Document
- i. The insurance HealthSource Chiropractic requires is for its own protection. You should consult with your own insurance agents, brokers, and attorneys to determine what types of coverages and what level of insurance protection you may need or desire, in addition to the coverages and minimum limits specified by HealthSource Chiropractic. Your obligation to maintain insurance coverage as described in this Agreement will not be reduced in any manner by reason of any separate insurance we maintain on our own behalf, nor will our maintenance of that insurance relieve you of any obligations under this Agreement.
Source: Item 23 — Receipts (FDD pages 77–282)
What This Means (2025 FDD)
The 2025 Franchise Disclosure Document for Healthsource Chiropractic specifies the franchisee's responsibilities regarding insurance coverage. While Healthsource Chiropractic mandates certain insurance requirements for the franchisee's protection, the franchisee is advised to consult with their own insurance agents, brokers, and attorneys to determine appropriate coverage levels and types of policies.
Healthsource Chiropractic's insurance requirements are primarily for its own protection, and franchisees should not rely solely on these requirements to meet their individual business needs. Franchisees are responsible for maintaining insurance coverage in amounts and under terms required in connection with their lease or purchase of the premises.
The FDD does not explicitly state who reviews and approves the deductible amounts for the insurance policies. However, it implies that the franchisee has the autonomy to decide on the deductible amounts in consultation with their own insurance professionals, as long as the overall insurance coverage meets Healthsource Chiropractic's minimum requirements. Therefore, the franchisee ultimately decides on the deductible amounts for their insurance policies, considering their own risk tolerance and financial situation.