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A Guide To Food Truck Insurance

This presentation explores the need for food trucks to get insurance, including some risks food trucks face, the insurance policies it requires, and its cost. Food trucks in the US have upscaled to 23,873 in 2020. The food truck industry earns around $2 billion revenue every year. With great rewards come some perilous risks such as Vehicle risks, Operator risks, Liability risks, Food spoilage and Fire hazard risks. Food truck insurance is for any business that has adopted the mobile way of operating. They must have insurance whenever they are on the go. Click here to learn more about food truck insurance. https://quotezebra.com/food-truck-insurance/

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A Guide To Food Truck Insurance

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  1. Food Truck Insurance Keep Your Wheels Rolling with Food Truck Insurance

  2. Food Truck Insurance • The food truck industry earns around $2 billion in revenue every year. • Food trucks insurance protects food trucks from certain threats such as: • Vehicle risks • Operator risks • Liability risks • Food spoilage • Fire hazard risks

  3. Who needs food truck insurance? • Food trucks in the US have upscaled to 23,873 in 2020. • For any business that has adopted the mobile way of operating, they must have insurance when they are on the go. Example- • Lunch trucks • Catering trucks • Vending trucks • Ice cream trucks • Concession trucks • Mobile food trucks

  4. What policies do food truck insurance cover? • Here are some common insurance policies that food truck insurance covers: • Business owners policy • Workers compensation insurance • Commercial auto insurance • Commercial property insurance • Commercial general liability insurance • Product liability insurance

  5. Business Owners Policy • A business owners policy combines 3 policies as one plan. • Commercial property • Business income • General commercial liability • The BOP covers different claims against liabilities such as: • Property damage • Customer injuries • Theft • Vandalism

  6. Workers Compensation Insurance • A workers compensation insurance covers claims for all the injuries while on the job, such as lost wages and medical bills of the employees. • Example: In a rush to serve the dish, if a hot pot tumbles and injures your employee's leg, then worker’s compensation insurance helps to cover the medical bills for it.

  7. Commercial Auto Insurance • A commercial auto insurance makes sure to cover the medical bills, cost of property damage, and possible lawsuits caused during a vehicular accident. ​ • Food truck accounts to 280,000 accidents every year. ​ • When your business model is itself based on a vehicle, let alone owning one, commercial auto policy is a must-have.  ​

  8. Commercial General Liability Insurance​ A general liability insurance policy helps food trucks to protect and cover costs for:​ • Bodily injury​ • Medical payments​ • Property damage​ • Advertisement injury​ • Legal defenses​

  9. Commercial Property Insurance​ • A commercial property insurance generally helps to cover losses incurred by your food truck’s assets. ​ • Starting from your food to the kitchenware, your food truck must be covered by commercial property insurance to protect the equipment that runs your business. ​ ​

  10. Product liability Insurance​ • Product liability insurance helps to cover costs for illnesses, property damages, and injuries that are caused by defective products sold by a business. ​ • For example: Your food truck happens to have served contaminated food to its customers. This can cause a pending lawsuit by customers who got ill because of your food.​

  11. How much does the food truck insurance cost? ​ Food truck insurance considers several factors in determining the insurance cost. It includes: ​ • Risks of food trucks ​ • Value of business equipment and property ​ • Services offered by the food truck ​ • Revenue of business ​ • Location of business ​ • Number of employees and payroll ​ • Policies coverage amount ​ • Deductibles ​

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