A food truck can be a great business–less overhead than a restaurant, and the ability to go where the customers are–but you have to be sure your food truck insurance is in place in adequate amounts before you take off, if you want to stay in business.
It’s important to find an insurance agent who understands the particulars of food truck insurance, whether your operation is brand new, or just undergoing changes. Putting together a risk management plan that covers the basics as well as your individual needs is paramount to undergirding future success. Your budget, your goals, and your risks are all pertinent–be prepared for questions about your annual income and other specifics when you discuss food truck insurance with your agent.
Familiarizing yourself with some basic coverages can help you understand the process, and help you make choices that can protect your business…
General Liability. Also called “slip and fall” insurance, General Liability protects you in case of physical damages or injuries to third parties. Food-related injuries also fall under this coverage; if you’re sued because of food poisoning or an injury that resulted from your product, this is the policy that you would use for covering legal costs.
Commercial Auto. Not all commercial auto policies are created equal; you need a plan if your business revolves around a vehicle, and your food truck insurance needs to cover not just the actual truck, but modifications and equipment that help your business run–figuratively and literally.
Workers Compensation. If you have employees, you need to understand your state’s laws about Workers Compensation, and whether it needs to be a part of your food truck insurance policy.
Liability Umbrella. Expanding your business doesn’t just mean offering new menu items or gaining access to a new venue; it can also mean that you should consider upping your food truck insurance coverage limits with Liability Umbrella, a policy designed to cover damages when they exceed the limits of your other policies.
A food truck is a great opportunity, and the correct insurance can help make it possible for your business to enjoy a long, healthy life.
Call us today at 1-877-907-5267 to speak with one of our insurance specialists about your food truck insurance needs, or click here to start the process of a quick, free, competitive quote–great coverage is just a phone call or mouse click away.