Running a franchise means spinning a lot of plates—operations, hiring, marketing, customer experience… and insurance often gets tossed in as an afterthought. I get quotes, pick one, sign the paperwork, and move on.
But now I’m asking myself: Is my insurance actually doing its job?
The Problem: I Think I'm Covered… But Am I Really?
It’s easy to assume I’m protected just because I bought a policy. But when I slow down and really think about it, there’s a lot I’m unsure about:
- Do I actually have the right coverage limits to protect me if something serious happens?
- Is my business interruption coverage enough to keep me afloat if I have to temporarily shut down?
- Have I made sure my subcontractors, employees, and vehicles are all properly covered?
- Could there be hidden exclusions in my policy that quietly remove protection I thought I had?
I’m not trying to become an insurance expert—I just want to know I’m protected. I’ve invested too much into this business to gamble on hope.
The Fix: A Sanity Check, Not a Deep Dive
That’s why I’m using the Rikor Insurance Review Checklist. It gives me a clear, step-by-step way to review my policy or quote with fresh eyes—no insurance degree required.
Here’s what I’m using it to ask myself:
- Do I understand what this policy actually covers—and what it doesn’t?
- Are my limits high enough for the kind of claims I could realistically face?
- Is my franchisor listed as an additional insured like they’re supposed to be?
- Are my payment terms clear—and are there any fees I didn’t notice?
- What’s the process if I ever need to file a claim?
- If I’m comparing quotes, am I making an apples-to-apples comparison?
- Am I paying for anything that doesn’t apply to my business?
It’s a checklist I’ll come back to every time I renew or shop for a new policy.
Why This Matters
Taking the time to ask these questions now could save me thousands later. It helps me:
- Avoid bad surprises when I actually need to file a claim.
- Feel more confident about the decisions I’m making to protect my business.
- Keep things aligned with what my franchise agreement requires—without having to decode every detail myself.
- Focus on growing my business instead of worrying about what might go wrong.
One Checklist. A Lot More Peace of Mind.
If you're a franchisee like me, juggling priorities and just hoping your insurance is good enough—don’t leave it to chance.
The Rikor Insurance Review Checklist gives you a simple, practical way to ask the right questions, protect your investment, and feel more in control.
Before your next renewal or when reviewing a new quote, take 10 minutes with the checklist. You’ve got a lot riding on this business—it’s worth making sure the foundation is solid.