Franchisor insurance

Franchise businesses, like all businesses, require several types of Business Insurance. If you are a franchisor in New Jersey considering which kinds of insurance you need to keep your company afloat even after a catastrophic event, contact Blue Lion Insurance Advisors, LLC at (732) 649-1600 or online. We are well-prepared to guide you to the types of Commercial Insurance designed to protect franchisors from the variety of operational risks that threaten your stability. 

Why Choose Blue Lion Insurance Advisors, LLC?

As you begin to investigate to Business Insurance marketplace, you will find that our advisors are well-respected throughout the state of New Jersey. This is by no means surprising since we have been providing our commercial clients with reliable guidance and personalized service for a century. 

What sets us apart from the crowd is that we are independent brokers, unaffiliated with any particular insurance provider, so we can offer you the very best coverage from a broad range of insurance companies at a reasonable cost. 

There are a great many advantages to having objective insurance advisors, and always being able to make our client’s best interests our top priority. We also have a well-deserved reputation for knowledgeable, friendly customer service and for standing by our customers as their claims are processed. Contact us now to discuss your needs, your goals, and your insurance options with a well-informed insurance adjustor.

Common Types of Franchisor Insurance

We typically recommend the following kinds of Franchisor Insurance to our clients as essential:

  • Directors’ & Officers’ Liability Insurance (D&O) to reimburse the costs of legal defense incurred by board members, managers, and employees if your company has to defend against claims made by shareholders or third parties for alleged wrongdoing. D&O Insurance covers monetary damages, settlements, and awards resulting from such claims.
  • Professional Liability Insurance (E&O) to cover the franchisor for alleged errors, omissions, or negligence resulting from their professional services. This is an essential policy for all franchisors who are at risk not only from mistakes by franchisees but also from other third parties, including customers, landlords, or service providers.
  • Commercial General Liability Insurance (CGL) covers claims arising from injuries or damage your business caused on its premises or damages caused to another party’s property. It covers not only bodily and property damage, but reputational harm, such as libel and slander.
  • Property Insurance provides resources to repair or rebuild if your franchisor business has been seriously damaged by fire, explosion, serious storms, burst pipes, theft, or vandalism. Property Insurance provides coverage for physical buildings, furniture, equipment, machinery, and personal property (earthquakes and floods are not usually covered by Property Insurance).
  • Cyber Insurance to cover liability resulting from a data breach or cyber attack involving sensitive customer/client information, e.g. Social Security numbers, credit card numbers, account numbers, driver’s license numbers, and/or health records.
  • Credit Insurance provides coverage from bad debts by ensuring that you will receive accounts receivable even if your customer/client declares bankruptcy, defaults, or otherwise stiffs your company.

We Offer Comprehensive Franchise Insurance Programs

We are well aware that it is beneficial for the franchisor to offer insurance programs to its franchisees to meet a standard of quality care, terms, conditions, and cost savings. For this reason, our experienced insurance advisors offer Franchise Insurance programs tailored to meet your company’s needs. 

More than that, our insurance advisors are committed to keeping our relationships with our franchise clients intact and productive. Therefore, we keep track and help you to update your insurance coverage at least annually to reflect the growth of your own company and the trends of the larger insurance market. More than that, we are always available when you contact us with questions and concerns.

Franchise Liabilities

Because of the complexity of relationships between franchisors and franchisees, between landlords and tenants, between customers/clients and the franchise, and between shareholders and owners, there is room for numerous disputes, liabilities, and lawsuits to develop. That’s why it’s so important that you, as a franchisor, have a trusting and durable relationship with your insurance advisor.

Why Franchisor Insurance Needs Vary

Our insurance adjusters know that no two franchise businesses are identical, and we know precisely which questions to ask to clarify what makes your company unique in terms of:

  • Size (acreage, number of employees)
  • Scope (are there a few franchisees or a few dozen?)
  • Type and risk factors of the product or service being offered 
  • Nature of risks you incur due to your locations, the training of your staff, 

the equipment or vehicles used by your employees, the makeup of your customers or clientele, and the amount of data you keep in the cloud.

You should bear in mind that if your franchise falls into a specialized category that requires unusual Franchisor Insurance policies, Blue Lion Insurancer Advisors, LLC is ready to provide you with a  Business Insurance policy that is industry-specific.

Contact Our Franchisor Insurance Advisors Today

Running a successful franchise is complicated, but can also be satisfying and lucrative. You have no doubt worked hard and long to build your franchise business. Contact Blue Lion Insurance Advisors, LLC. to make sure that you have all the Franchisor Insurance you need to keep your franchise Blue Lion Strong™.