What is the minimum limit required for Employer's Liability insurance for a Petro Stopping Center?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
l USTs (underground storage tanks), or if the state where located has a tank fund, then coverage for USTs to equal five million dollars ($5,000,000) with excess coverage.
- (e) Worker's compensation insurance in amount
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 37–42)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, franchisees must maintain Employer's Liability insurance with a minimum limit of $1,000,000 per accident. This insurance coverage is designed to protect Petro Stopping Center and its affiliates, including directors, officers, agents, and employees, who must be listed as additional insureds on the policy.
This requirement ensures that the franchisee has adequate financial resources to cover potential liabilities arising from employee injuries or accidents. Maintaining this level of coverage is a standard practice in franchising, particularly in businesses with employees, to mitigate risks associated with workplace incidents.
The franchisee is responsible for securing and maintaining this insurance coverage throughout the term of the franchise agreement. Failure to maintain the required insurance could result in a breach of the franchise agreement and potential legal or financial repercussions. It is important for prospective franchisees to factor in the cost of this insurance when evaluating the overall investment required to operate a Petro Stopping Center franchise.