If you own a food truck, insurance has to be a top priority. Why? One recent study showed that 57 percent of all lawsuits against businesses involved small businesses that earned less than $1 million annually. So, it's not always the big corporations that receive most of the legal heat. The investments you've made in your trailer and your business need proper protection that a well-written insurance policy can provide.
There is a need for concession trailer liability insurance across many industries and business types, including:
Concession locations include:
Your business may operate from one primary location or from a number of locations, and you may even move regularly among fairgrounds or business parks. Your concessionaire insurance will need to reflect the specific risks involved in your business operations, whether you have a mobile operation or you have one stable location, and whether you sell food, goods or artwork.
If your concession business involves food, you might handle business functions, conventions, weddings, buffets, events or you may have a mobile service that travels between customer sites. Each of these may require concession trailer or "food truck insurance." There may be state or federal laws that require it, but just as importantly, your business's future may require it.
Food truck liability insurance can help you prepare your business for all manner of liability risks. For example, in one case, the owner of an alcohol concession stand was found guilty for the injury of a 7-year-old girl by one of the stand's customers in a drunk driving case. Other liability scenarios include:
Remember that customers can sue you for damages and injuries that you might not be aware you caused. Protect yourself from liability lawsuits with the right business insurance to cover your bottom line.
Your concessionaire insurance should include a range of coverage, including:
Your specific food truck insurance will need to be tailored to your business. For some small businesses, a business owners policy or BOP can provide coverage that can handle many of the most common risks in a bundled policy. There are many additional coverage types to consider that may apply to you as well, such as employee fraud. Be sure to work with a knowledgeable agent to ensure you have the most complete protection possible.
Your concessionaire insurance needs are unique to your business, the products or services you sell and the locations where you operate. With so many insurance companies and types of coverage available, you may need help finding the best fit for your operation. Choose an independent agent to help make comparison shopping easy. These agents can pull quotes from several companies to get the insurance coverage you need at a price that makes sense for your budget and business needs.