Franchise Operators Save Big with Multi-State EPLI Insurance
Real-World Examples and Cost Considerations
Consider a franchise operator with locations in California, Texas, and New York. Each of these states has unique employment laws, and a multi-state EPLI policy can be customized to address the specific risks and legal requirements of each location. This tailored approach not only provides comprehensive protection but also helps in avoiding costly legal battles that can arise from non-compliance.
Financially, while the cost of EPLI insurance varies based on factors such as the number of employees and claims history, multi-state policies often present an opportunity for savings. According to industry reports, businesses can save up to 20% on premiums by consolidating their policies1. This reduction in cost, coupled with the administrative efficiency gained, makes multi-state EPLI insurance an attractive option for growing franchises.