One of the most popular and fastest growing parts of the food industry are food trucks. People seem to have an infatuation with them, that doesn’t seem to be going away anytime soon. As almost every city has a weekly night that residents come and line up to taste the newest and coolest food creations from unique food trucks, many of us don’t think of the work and investments that goes into making a food truck successful. While many decide to go the route of having a food truck rather than opening up a restaurant because it doesn’t require the same costs, it still does require certain insurance coverage.
It's important to protect your vehicle since you depend on it in order to make a living. There are several different types of insurances you will need in order to ensure that your food truck will have the proper coverage that it needs, and coverage that is required by many locations such as city parks.
General Liability Insurance
General liability insurance is important for any business to have. It should cover you and your business in areas that may offer a liability issue or products or services that you are liable for. For example, if a guest sits in a bad chair and injures themselves, general liability insurance should offer you protection form a lawsuit. This insurance will take into consideration the revenue of your business to rate your policy.
While you are driving the truck to the location you plan on setting up to serve food, the person driving behind you was texting and driving and rear ended you. No matter how careful you drive, accidents on the road can be unavoidable. Having auto insurance is a necessity by law for any vehicle that is on the road.
Property insurance works much as it would if your truck was an office or a building. The coverage will insure anything inside of the truck, including equipment such as refrigerators, fryers, and any tables and chairs needed for guests.
Loss of Income Insurance
It's important for any business to have a loss of income insurance policy in the event that there is a loss of income. Whether it is a natural disaster or other covered loss that puts your business out of operations, having this insurance will give you the ability to pay bills when you are unable to operate.
Workers' Compensation Insurance
If you have employees or plan on developing a staff, you need to consider purchasing a workers' compensation insurance policy. There are certain laws depending on the state that you live in regarding workers' comp. Do your research to make sure you are properly covered according to the law.
Also, working in a food truck may require to work with potentially dangerous tools such as ovens, knives, etc. Accidents happen, so make sure you are properly prepared for them in the event that one of your workers has an accident in the workplace that will keep them from being able to work.
Other Insurances to Consider
Some other types of insurance that you may want to consider depending on the type of truck you have include refrigerated truck insurance and commercial van insurance.
All of these different types of insurances may be a bit overwhelming, but here at MHG we want to make things simple for you. We can put together an insurance package that will properly cover your food truck, so all you will have to worry about is serving up more delicious dishes!
If you own a business, and are looking for protection and would like more information about business insurance coverage, we would be happy to assist you. Also, if you are looking to purchase various forms of business insurance such as General Liability or Professional Liability, our insurance specialists have the experience to assist your business and offer advice in finding the perfect plan to fit all of its needs. For more information about the importance of umbrella policies, read our previous blog, “Why Business Owners Need an Umbrella Policy.” Contact us today at +1 954-828-1819 or +44 (0) 1624 678668 or visit us online at mhginsurance.com.