Suppose you are interested in starting your food truck restaurant; the first thing you should consider is buying catering insurance. When you lack the proper insurance, your food truck will likely cost you thousands or put you out of business. This article focuses on catering business insurance and the various types of insurance you should consider.
Catering Truck Insurance Cost
The cost of catering insurance can start from $2,000 to $4,000 yearly, but it can vary depending on the coverage option you go for. General liability insurance with a million and a zero deductible coverage can have a premium of $300-$800.Commercial auto insurance with a coverage of two hundred and fifty thousand and a deductible of five hundred, the premium can range between $1,500-$3,000. For contents insurance with a coverage of twenty-five thousand and a deductible of five hundred, you are likely to pay a premium of $300 -$1000. You can also get career liability insurance with a coverage of a million with no deductible. This insurance cover comes in handy if you do not have personal chef’s insurance, as it covers you in caseworkers sustain injuries while working. The rate you get depends on the size of the business, risk factors, the provider, state policies, value of equipment, employee payroll, deductible options, and many more.
General Liability Insurance
For catering trucks the general liability insurance is essential. It would be best to safeguard your mobile business from incidents and accidents that may involve a third party. This cover protects you from product-related lawsuits such as food poisoning, cut from glassware, food contamination, food poisoning, food-related illness, burns sustained from hot food. If a customer sustains injury around your catering truck through this insurance, you are protected from lawsuits. You are covered from property damage lawsuits, and if you get sued for any reason, the insurance covers your legal fees. The insurance does not cover car accidents, employee-related incidents, and incidents that may occur when moving stuff from one location to another.
Commercial Auto Insurance
Any vehicle being used for business purposes requires commercial auto insurance alongside. The insurance protects from liabilities or damage that occur while the vehicle is on transit. The policy also protects your car from physical damage to items and units attached to your car through plumbing, gas lines, and bolts. In case someone gets injured or property damaged during transit, the insurance covers it. If you have been involved in a collision that damages the car and the fixed items, the insurance sorts it out. The insurance will not cover damage that happens to your catering truck while stationary.
The items in your catering truck that are not permanently fixed to the unit are covered under contents insurance. Business owners can decide if they want an actual cash value policy that offers the product’s cost minus depreciation or replacement cost value, which covers the price of a new product. This type of insurance covers stolen property, vandalized items, items spoiled by fire or weather, items damaged in a collision, and items not stored in the truck. The insurance does not cover items fixed to the truck.
Please contact TWFG Insurance at 713-388-6681 to receive a free quote today.