Franchisor Insurance
Comprehensive insurance cover for franchise business owners
Why do I need Franchisor Insurance for my business?
Franchisors face a great many responsibilities in their business. As a business in its own right, a franchise brand will need to ensure that all potential liabilities, property, vehicles, stock, contents and other assets are covered through adequate insurance. But by the nature of franchising, you’re effectively allowing other businesses access to your brand, products and / or services. In doing so, a franchise company could face significant reputational risk, too.
There simply isn’t an ‘off the shelf’ franchisor insurance policy out there. Because franchises are run across a diverse range of business sectors, they all face different challenges and risks. Real Insurance Brokers have a proven track record when it comes to arranging quality insurance cover for franchisor businesses. We would be happy to help you find the cover you need to suit your strategy.
Call us today to start the discussion!
What is Franchisor Insurance?
Franchisor insurance is an umbrella term. Depending on the nature of the franchise, there are a range of covers that may need to be included to protect your business from a range of risks.
First and foremost, you’ll need the basic covers in place that any business might need to think about. Liability insurances, protection for premises, contents and any commercial vehicles can all be included. So to, where relevant, insurance for stock and goods in transit.
But because you’re in a situation where you have other businesses using your brand, product and / or services, you need to think about what might happen if one of your franchisees does something that could cause your business reputational or financial damage. Worse, if they haven’t protected themselves adequately, it could impact on your management fees. For that reason, rather than leaving the franchisees to arrange their own cover, you should consider stipulating what cover they need to take out.
At Real Insurance we have extensive experience helping franchisors identifying the right cover for their franchisees. You can include an option of cover as part of your contract with them. We’re here to take the insurance headache away. Get in touch today.
What is covered by a Franchisor Insurance policy & potential extras?
Certain minimums are required by law and regulation, others for peace of mind for you and your franchisees.
A typical franchisor insurance agreement almost always includes:
As a franchisor, it makes sense to protect your own business in its own right as well as making sure that your franchisee‘s have taken out protection that adequately addresses the risks that they may face.
Why choose Real Insurance Brokers for your Franchisor Insurance cover?
Because you care about risk management, not just ticking the minimum requirements boxes for your compliance team. We are experts in the field, as well as in finding the right cover for our clients.
Franchisors face challenges that other business models don’t, and you need insurance cover that reflects your specific business needs. You can rely on Real Insurance Brokers to help you identify and understand your business’ unique risk situation, and to help you select franchisor insurance and other products that truly address those needs adequately.
