What is covered in a Franchise Insurance policy?
That depends quite a bit on the needs of your individual business, the needs of the other businesses in the franchise, and whether each if a franchisor or a Franchisee. For example:
As a franchisee, your franchisor may well stipulate what cover you must have in place as part of your contractual agreement with them. Requirements can be complex – but that’s where we can help. As brokers we can help you understand the requirements and do the research for you, before providing you with recommendations and quotes. Beyond any requirements stipulated, you will want to protect your business and its assets for its own sake. You’re running a business in its own right, and ensuring you have adequate protection for your people, stock, contents, tools and equipment as well as any other liabilities and assets should be a priority.
Beyond the compulsory levels of business insurance you’re required to take, as with a franchisee, you’re running a business and it’s important that you have cover in place to protect your investments in the business. As a specialist broker in the franchise insurance market, we can advise you on what covers you ought to consider. Additionally, it may be that, as part of your arrangements with your franchisees, you want advice on what cover you should stipulate they have in place – or even offer them an option on cover that you recommend. We are happy to help in the situation.
Learn more about Real Insurance Brokers’ options for Franchisor Insurance.
Your franchise insurance cover might include:
Or any of dozens more protections, as determined by your unique business needs.