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Edit Franchise Agreement Template

Edit Franchise Agreement Template

Aug 6th, 2022

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How to Edit Franchise Agreement Template

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56 votes

Tim Feddersen from Gas Bar Insurance Services discusses the importance of understanding insurance requirements in franchise agreements. He emphasizes assisting franchisors and franchisees in protecting their investments. The conversation begins with general liability insurance, which covers liabilities arising from incidents on the premises or related to products. Typical policies offer coverage of $1 million per claim and $2 million aggregate within a year. For some clients, a recommendation of $2 million per claim and $4 million aggregate is made, as the cost difference is minimal and beneficial in the event of serious injuries. He also notes that all businesses should have some form of auto coverage.

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