Can Remax change the minimum amount of insurance coverage required under any policy?

According to Remax's 2025 Franchise Disclosure Document, Remax can change the minimum amount of insurance coverage required under any policy. Remax may also require different or additional kinds of insurance. These changes can be made to reflect inflation, identification of new risks, changes in law or standards of liability, higher damage awards, or other relevant changes in circumstances. Remax will specify a timeframe that they deem necessary for these changes.

Remax franchisees must maintain required insurance coverage at their sole expense throughout the term of the franchise agreement. Failure to maintain the required insurance is a material breach of the agreement, potentially leading to termination of the franchise agreement. If a franchisee fails to maintain the required insurance, Remax has the option to obtain such coverage on the franchisee's behalf, although they are not obligated to do so. The franchisee is then responsible for reimbursing Remax for any costs and premiums incurred.

In addition to the franchisee's insurance obligations, Remax also requires that each Sales Associate in the franchisee's office obtain automobile liability insurance. This policy must name REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC as additional insureds, provide primary and noncontributory coverage, include a waiver of subrogation rights, provide the same amount of coverage as the franchisee is required to obtain, and contain a provision for prior written notice of termination, expiration, cancellation, or modification of the policy to REMAX Regional, RE/MAX Holdings, Inc. and REMAX, LLC.