What is the minimum amount of comprehensive general liability insurance coverage required for a Remax office per occurrence or claim?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
X, LLC's buying power.
David L. Liniger and Gail A. Liniger each own an interest in EDR Travel, Inc., an approved supplier of travel agency services. To the best of our knowledge, none of our other officers own a material interest in any other approved supplier (not counting minimal interests possibly owned through mutual funds).
Insurance
You will be required to obtain and maintain, at your expense, such insurance coverage that RE/MAX Regional requires from time to time and to meet the other insurance related obligations in the Franchise Agreement. This insurance must include, at a minimum, the following types of coverage:
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- Comprehensive general liability insurance insuring against claims for bodily and personal injury, and death and property damage, caused by or occurring in conjunction with the operation of the Office or otherwise in conjunction with the conduct of business, in the face amount of not less than $2,000,000 per occurrence or claim and annual aggregate. Coverage must also include broad form contractual liability, broad form property damage, personal and advertising injury, premises liability and products liability. You will also be required to secure endo
Source: Item 8 — Restrictions on Sources of Products and Services (FDD pages 47–53)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, franchisees must maintain comprehensive general liability insurance. This insurance protects against claims for bodily and personal injury, death, and property damage related to the operation of the Remax office or business activities. The minimum required coverage is $2,000,000 per occurrence or claim and $2,000,000 annual aggregate.
In addition to the general coverage, the policy must include broad form contractual liability, broad form property damage, personal and advertising injury, premises liability, and products liability. Franchisees must also secure endorsements covering each of their sales associates under this policy. Alternatively, franchisees must ensure that each sales associate obtains their own comprehensive general liability insurance with at least $2,000,000 coverage per occurrence and annual aggregate.
This requirement ensures that Remax franchisees and their sales associates are adequately protected against potential liabilities, safeguarding both the franchisee's business and the Remax brand. Franchisees need to factor in the cost of this insurance when assessing the overall investment and operational expenses of the franchise.