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How Much Insurance For Food Truck Is Needed?

How Much Insurance For Food Truck Is Needed?

If you have a food truck, there are a range of different policies you will need for coverage. As a food truck owner, you need a mix of policies, such as general liability insurance and commercial vehicle insurance. Basic forms of policies for food trucks will cost you around $2,500 per year — but this will increase when you extend your coverage options.

In addition to the two aforementioned types of coverage, you may also need workers’ compensation, business owners’ policy, and business property insurance for your food truck business. 

While costs for insuring your food truck will depend on these forms of coverage, they will also be influenced by the location of the truck. Trucks parked in areas where there is high crime or in a lot as part of an ongoing fair may have higher premiums. Also, the workers’ compensation you get will be affected by your employees’ different roles and their current payroll.

Keep in mind that you will also need to insure all the equipment that is permanently attached to your truck, as well as miscellaneous materials you have inside it, as these count as part of your business property’s value. 

The above policies are best for food trucks, as the risks these vehicles are typically faced with include fire, equipment breakdown, and theft. Insurance for your food trucks will keep you protected from these risks and the potential losses that may arise from them as well.

Frequently Asked Questions:

What are the basic insurance policies needed for a food truck?

Basic insurance policies for a food truck typically include general liability insurance and commercial vehicle insurance.

What is the average cost of basic insurance for a food truck?

Basic forms of insurance for a food truck will cost around $2,500 per year, although costs may increase depending on extended coverage options.

What other types of insurance may be required for a food truck business?

Additional types of insurance that may be needed include workers’ compensation, business owners' policy, and business property insurance.

What factors can influence the cost of insuring a food truck?

Factors that can influence insurance costs include the location of the truck, the roles and payroll of employees, and the value of permanently attached equipment and materials inside the truck.

What are some common risks faced by food trucks that insurance covers?

Common risks faced by food trucks that are typically covered by insurance include fire, equipment breakdown, and theft.

Want to learn more about these individual insurance policies? Assured Standard can help you out with that. Check out our site for all your insurance needs!

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Assured Standard will protect your business with the right insurance, depending on your needs. Now more than ever, it’s crucial to have the right general liability insurance experts on your side. Protecting the future of your business starts today.
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