From planning your route and menu to wrapping the exterior of your vehicle in attractive graphics, building a food truck business can be an exciting venture from almost every aspect. However, when you get to the point when you have to start seriously thinking about getting your new business up and running, it is time to start thinking about commercial insurance. This is one part of the food truck development process that can seem daunting, especially since your business is essentially on wheels. Here are a few of the biggest things you will probably want to know about insuring your food truck business.
What types of insurance will be necessary for your food truck business?
As the owner of a food truck business, your insurance requirements will be quite different from the average business owner. You will basically need three types of insurance, including:
- commercial truck insurance
- business property and liability insurance
- worker's compensation insurance to cover your employees
Why do you have to have business insurance and auto insurance?
Essentially, your commercial truck insurance will only cover the vehicle itself and not its business components. Because you own a food truck, this vehicle has far more inside than any ordinary vehicle would have. For example, your truck will likely be fitted with cooking equipment or a small cooler. Your business insurance will cover not just the components inside the food truck, but also your inventory and liabilities. For example, if you serve something undercooked and a customer gets sick, your liability insurance would be important.
Where is the best place to go to obtain the insurance you need for your food truck business?
If you can find an insurer who offers various insurance types, you will be much better off, as having just one insurer to communicate with and pay your premiums to can be a lot less of a hassle than having to deal with two or three. There are some auto insurers who have updated policies to help cover those in the food truck business. So there are often policies designed to cover both the vehicle as a component of your business and your business property inside.
In the end, taking your time where your insurance is concerned can help things run a lot more smoothly later on in your food truck business. If you have additional questions about commercial truck insurance or insurance in general, be sure to talk to an agent for additional advice. For more information, contact local professionals like Metropolitan Insurance Service Consultants.