What is the minimum amount of comprehensive general liability insurance coverage required per occurrence or claim and annual aggregate for a Remax office?
Remax Franchise · 2025 FDDAnswer from 2025 FDD Document
ent, and any extension or renewal thereof, maintain in force at your sole expense such insurance coverage that we require from time to time and to meet the insurance related obligations in this Agreement (your obligation to obtain and maintain the insurance described below shall not be limited in any way by reason of any insurance we or our Related Parties maintain, nor will your performance of such obligations relieve you of any obligations under Section 5 of this Agreement). This insurance shall include, at a minimum, the following coverage:
a. Comprehensive General Liability.
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 by you pursuant to the Franchise and this Agreement, in the face amount of not less than $2,000,000 per occurrenc
Source: Item 22 — Contracts (FDD pages 108–334)
What This Means (2025 FDD)
According to Remax's 2025 Franchise Disclosure Document, a franchisee 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 under the franchise agreement. The minimum required coverage is $2,000,000 per occurrence or claim and $2,000,000 annual aggregate. The coverage must include broad form contractual liability, broad form property damage, personal and advertising injury, premises liability, and products liability.
Remax franchisees must also ensure that each of their sales associates is covered under the comprehensive general liability insurance policy. This can be achieved either by securing endorsements covering each sales associate under the franchisee's policy or by ensuring that each sales associate obtains their own comprehensive general liability insurance with a minimum coverage of $2,000,000 per occurrence and annual aggregate.
Maintaining the required insurance coverage is a critical obligation for Remax franchisees. Failure to do so constitutes a material breach of the franchise agreement, potentially leading to termination. Remax Regional has the right to designate the insurance agency or broker that franchisees must use to meet their insurance obligations. Remax Regional may also change the minimum amount of coverage required or mandate different or additional kinds of insurance to reflect factors such as inflation, new risks, changes in law, or higher damage awards.