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Getting into any business venture is a serious endeavor, but starting a food truck is something that’s unique to the American cuisine. It’s all about being successful, and in this day and age, more and more people are turning to food trucks for their meals. In 2015, the food truck sector brought in $1.2 billion in sales.
It takes a few things to get a food truck together: a business plan, an emergency fund and the actual truck itself, according to Food Truckr. But on top of that, you need food truck insurance. Having coverage to protect you in times of need is a must for any business, especially for a food truck. If you’re trying to start a food truck, these are the core types of insurance that you’ll need to start.
General Liability Insurance
This is the most basic coverage you’ll need, protecting you from lawsuits brought against you for injury or property damage to third parties. Should a customer fall ill from food poisoning that could be attributed to your business, or your truck accidentally cause damage to someone else’s property, or injure a patron, or commit copyright infringement in its advertisements, this coverage will pay for all legal expenses, judgments, and settlements from claims.
Workers’ Compensation
If you have employees, they need to be covered too. Make sure you have this coverage for them in case of an accident or injury; it’s required in many states. Though Texas does not require workers’ compensation coverage by law, it provides the perfect safety net for businesses should their employees fall ill or become injured while on the job.
Property Insurance
This coverage gives a business protection from collision, fire, theft and vandalism. Coverage is separated by the truck with attachments and what’s not attached to the truck. When it comes to food trucks, there is a great deal of equipment and property that could potentially be damaged (and harm your business in the process). Property coverage should cover your workspace, your inventory, and your equipment (including your oven, broiler, grill, fryer, refrigerator, freezer, and exhaust) from damages such as fires, theft, or vandalism.
Commercial Auto Liability Insurance
For a food truck business, it’s not just about the food you’re serving; it’s also about the truck that you’re driving on the road. That means you need coverage for the truck. In the event of an injury or property damage during an accident, having insurance will keep your business safe. It’s important to note that the auto liability needs to count for when you are moving, because your general liability kicks in when you’re parked. In addition, this coverage is often necessary for food truck operations to secure the right permits and licenses to legally operate within their jurisdiction.
At Transparity Insurance Services, we offer a Food Truck Insurance program that was specifically designed for these unique operations, created by people with experience in designing coverage for the industry. We can help you find a quote and a program that fits your needs.
About Transparity Insurance Services
Transparity Insurance Services was founded for the purpose of helping clients to ensure their property and assets with no hassle. We are committed to providing a simple, easy, efficient, and positive experience to all of our clients, and prioritize open and transparent communication with our clients. Through our excellent customer service and technology, we can help you to find the right insurance program at a competitive price. Contact us today at (855) 889-2037 to learn more about what we can do for you.