Insurance for Food Trucks

Insurance for Food TrucksThe food truck business is booming in cities across the United States as more and more trucks are hitting the streets. However, food trucks present some unique insurance challenges, and need insurance that blends coverage for a commercial vehicles with coverage for a retail restaurant. If you’re considering opening up a food truck business, be sure to consider these important insurance coverages:

  • Business Income Coverage
    A business income policy provides coverage if the business cannot operate. For example if the truck breaks down, and is unable to conduct business, this coverage will kick in to reimburse owners for lost business.
  • Food Spoilage Coverage
    If your truck has a power outage or failure, it’s likely your foods will spoil and be made unusable. According to MyNewMarkets, food spoilage coverage protects the insured against the financial consequences of direct loss to listed property damaged or made unusable by change in temperature, or contamination caused by a release of refrigerant. There are some policy exclusions, so be sure to discuss this policy thoroughly with your agent.
  • Inland Marine Floater
    An inland marine floater provides coverage for a wide variety of property and other contents in the truck. This coverage can protect your cooking equipment, tools and computers.
  • Cyber Coverage
    Are you planning to accept credit cards as payment? With the recent large retailer data breaches, it’s never been more important to secure a cyber insurance policy. Cyber insurance protects businesses against cyber attacks that compromise customers’ private information. Fore more info about the importance of this coverage, read Why Your Business Should Have Cyber Liability Insurance.

Would you consider owning and operating a food truck? If you’re interested in learning more about insuring your truck and business, the AssuredPartners NL property & casualty team can help. To learn more or contact an agent, visit: AssuredPartners NL Property & Casualty.

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