The fastest growing part of the food service industry is the mobile food truck sector. Mobile food trucks are usually self-contained, although some are trailers hitched to a tow vehicle. Growth in the industry has exploded, if you own a food truck business or plan to begin one, make sure your insurance portfolio has the coverage’s you need. Many California food truck owner/operators from all over the state specifically in the Montclair, Pomona, Chino, and Ontario area, choose Precision Insurance. This firm specializing in food truck insurance is independently owned and operated. This means that the brokerage has access to many top insurance companies and can pick the policies that give you the best coverage at an affordable price. The agency works for you and not for the insurance company.
Whether your food truck is in Riverside or in San Jose, the state of California insist that you carry at least two types of insurance.
If you have at least one employee or more you must insure your workers through a Worker’s Compensation insurance policy. This policy pays for medical care, lost wages and more for an employee who has a work-related injury or illness.
This policy works just as a private automobile insurance liability policy. The difference is that it covers any vehicle owned by your food truck company such as your own car or an employee’s car being used for the benefit of your company (does not include commuting to and from work). It protects you, your company, and the driver from the legal liability that may occur when vehicles used to fulfill business needs are in a crash.
So, that is all the insurance you need to legally open a business. But there is more protection you should strongly consider for your food truck business. Street food customers know a great deal about food. TV programs often showcase and feature mobile food trucks. But, how about a great deal to insure the food truck owners and their operation? Some food truck businesses find it difficult to find affordable rates. But, ask any vendor insured with Precision Insurance and they’ll tell you how simple and convenient it is to get covered.
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Food trucks and trailers cost $40,000 at the low-end. You need this insurance to cover damage if you cause an accident or if it’s vandalized, stolen, catches fire or any of the many other risks covered on your commercial auto insurance comprehensive coverage. This policy does have a limit and deductible. The size of each influences your premium.
You sell food. There is the risk of a customer becoming sick because one of your vendors sold you a tainted ingredient. Tainted Thai food is costly especially if many people become ill. Also this insurance protects your business and you as the owner against accidents such as a slip and fall resulting in an injury. More protection comes with this policy for advertising injury and personal injury. If your street food truck sells food at events, most venues insist on limits of $1 million per occurrence/$3 million in aggregate per occurrence.
California food truck owners often believe that as they are mobile they have no need for property insurance. Unfortunately, if you think this way your belief is wrong. Food trucks have inventory and equipment that averages $15,000 and up. Your business auto policy only covers the vehicle, not what is in it. An in-depth property insurance policy protects you from risks associated with your business’s property including the changes you made to your truck, the equipment (refrigeration, deep fryers etc,), mechanical breakdown and loss of business income.
California businesses in Chino, Upland, Rancho Cucamonga, Riverside and statewide who buy an umbrella policy. Many times venues insist that you have more than $1 million/ $3 million in liability coverage. An umbrella policy can extend all your liability with more limits – it kicks in when your liability policy reaches its limit.
Precision Insurance writes Food Truck Insurance for businesses throughout California. Founded in Montclair, CA we are available to write coverage throughout California. Call us for a free telephone consultation or to set up a face-to-face meeting. An insurance portfolio made up by us will give you the insurance products you need at an affordable price.
Photo Credit: VisitAnaheim.org