What is Food Vendor Insurance?

There are many types of insurance out there, but finding the right one for your mobile food business is very important. Concession and food vendor insurance meets the specific needs of people in your line of work so that you're protected from accidents or injuries. Don't risk leaving your business unprotected - get the coverage you need today.

Who Benefits From Food Vendor Liability Insurance?

Businesses that sell food in atypical locations, like concession stands and street fairs, should invest in food vendor insurance. For example, many small businesses need coverage for themselves if they're operating in public spaces such as outdoor venues or sidewalks. Below are some examples of the types of businesses that come to mind:

• Food Carts
• Food Trucks
• Event Catering
• Concessionaires
• Personal Chefs

Keep in mind if you're participating in an event, make sure to find out what kind of insurance you need. Your regular policy probably won't cover any off-premises activities, so you'll likely need some form of special event insurance. Each venue has different requirements, so be sure to check with them ahead of time.

What Food Vendor Insurance Policies Do You Need?

General Liability

Having a general liability policy is the most typical type of small business insurance. This policy assists protect your company from being sued for property damage or personal injuries that it may have caused-- these risks are usually unpreventable and can get very costly, specifically for small businesses who generally don't have enough resources to cover such a claim.

Property

You need to think about commercial property insurance to protect your food cart, equipment, etc. If anything damages them, you'll have to repair or replace the item, which costs money--and not just for the physical object itself but also for the income lost while it's out of service.

Commercial auto

If your business uses a vehicle on a regular basis- such as a food truck, you will need commercial auto insurance. This is similar to personal auto insurance in that it requires liability coverage for accidents caused by the policyholder. However, depending on the value of your vehicle or if you have a loan, you may also want to purchase collision and comprehensive first-party coverages.

Workers Comp

If you have at least one employee, nearly every state will require that you carry workers' comp. This policy is key because it covers your employees in the event they become injured or sick from work-related activities. It pays for their medical bills and replaces any wages lost as a result. Workers' compensation can also provide some protection for your business if an employee decides to sue after getting injured on the job.

Inland Marine

If your business involves equipment that moves around a lot, you may need inland marine insurance. This type of coverage can protect your equipment if it's lost or damaged while in transit. Many property policies come with equipment coverage, but they may be limited to certain areas specified in the policy. If you're unsure whether your current property policy covers this type of situation, check with your insurer or get some quotes for inland marine insurance.

Food Vendor Insurance Costs

A few key factors that affect the price of concession and food vendor insurance are the number of employees, the type of coverage needed, etc. For a more comprehensive idea, look below:

• Your price quote is based on how you operate. For example, a food stand will have different risks from a business running mobile food trucks.
• The location of your business affects how much insurance you need to purchase. For example, a small brick-and-mortar store is less risky to insure than a food truck in New York.
• The deductible: A higher amount that you'll contribute towards the cost of a claim usually results in a lower policy price. But make sure you could afford it if there was ever an incident.
• If you have filed a claim on your insurance policy before, your rates may be increased.

When deciding on food vendor insurance, you must prioritize getting the correct coverage over finding the cheapest option. The most affordable food vendor insurance may not give your business the level of protection to thrive. Ensure your policy covers all of your needs.