Are Pearce Bespoke franchisees required to purchase business personal property insurance?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
s products at whatever prices Franchisee determines.
You must purchase and maintain, at your expense, comprehensive general liability insurance in an amount Pearce Bespoke will designate periodically, but at least $1,000,000 per occurrence and $2,000,000 in the aggregate. Thisinsurance must insure Pearce Bespoke, you and any other person Pearce Bespoke designates from liability for all damage or injury. You must also purchase business interruption insurance, business personal property insurance, money, and securities insurance, and building insurance (if applicable). In addition, you must maint
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 19–20)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, franchisees are required to purchase and maintain several types of insurance. This includes business personal property insurance, along with other coverages.
Specifically, Pearce Bespoke mandates that franchisees obtain comprehensive general liability insurance with a minimum coverage of $1,000,000 per occurrence and $2,000,000 in the aggregate. This liability insurance must protect Pearce Bespoke, the franchisee, and any other designated parties from liability related to damage or injury.
In addition to general liability coverage, franchisees must also secure business interruption insurance, money and securities insurance, and building insurance (if applicable). Furthermore, franchisees are obligated to maintain any other insurance coverage as required by law. These insurance requirements ensure that both the franchisee and Pearce Bespoke are protected from potential financial losses due to unforeseen events.