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In recent years the food truck industry has been booming. Food trucks are lining up to serve hungry customers in cities across the U.S. At this point, we might go so far as to say that food trucks are the new restaurants and if you’re a chef or a foodie you might be thinking about getting in on the growing appetite for the deliciousness and convenience that food trucks serve. Starting your own food truck is a rewarding and liberating experience with much less overhead than a traditional restaurant. But, before you start outfitting your new truck (or old mini van) there are a few important things to keep in mind before you start serving.
Food truck insurance is one of the factors often left out when building a food truck startup plan. Operating a food business based out of a vehicle means food truck insurance consists of more than standard restaurant insurance, and it is important to protect yourself and your business by making sure you are covered properly.
6 Types of Insurance Your Food Truck Business Should Consider
The exact regulations for food trucks can vary between states and cities, but here are some of the standards that apply across the country
Commercial Auto Liability
What if you were involved in an accident while driving your food truck on the way to a festival? Personal Auto Insurance will not cover you or your vehicle while being used for business purposes. Commercial Auto Liability can cover everything your Personal Auto Insurance covers, but it protects you during working hours.
General Liability Insurance
For non-auto related incidents, such as bodily injury , property damage, or someone getting sick from a bad batch of donuts General Liability Insurance has you covered.
Inland Marine Insurance
At first glance, this doesn’t immediately sound like coverage you would need for a food truck. Despite how it sounds, Inland Marine Insurance is not just for boats. It covers your goods while in transit on land or on water. For example, if your food truck were in a collision on the way to a site any product or equipment that is not part of the truck itself could be covered by Inland Marine Insurance. For a mobile service like food trucks, coverage while in transit can be crucial in case significant food loss occurs while driving your food truck.
Your Auto Policy will, in most cases, only cover your truck. Property Coverage is important for covering the equipment inside. You can insure valuable items and protect yourself from loss from events such as fires or storms.
Workers Compensation can save you a lot of headache and will prevent hefty fines. It is required in most states and covers lost wages and medical treatment for work related illness or injury. It also covers services enabling employees to recover and return to work.
Umbrella Liability is a powerup for your General, Auto, or Employer’s Liability. When these insurance policies are not enough, Umbrella Liability will help to cover you. In many locations you may need 2 to 3 million in coverage and Umbrella Liability ease an inexpensive way to boost your total coverage.
Food Truck Insurance can be Easy
With so many types of insurance needed, food truck insurance can appear to be intimidating. Fortunately there are services available that simplify the insurance process and tailor comprehensive packages specifically for your small business insurance needs.
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