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How Much Is Commercial Food Truck Insurance?

How Much Is Commercial Food Truck Insurance?

Food trucks have quickly popularized around the country. IBIS World states that the number of food trucks in the country steadily climbed at a 12.1% annual growth rate in the past five years. While food trucks are lucrative, they still carry several risks. So if you plan on venturing into the business soon, start looking at the best insurers. A good policy ensures business continuity.

$1 million food truck insurance policies start at $300 to $800 per annum. However, these only cover general liability claims. Food trucks generally need commercial auto insurance, workers’ compensation, and contents insurance on top of general liability insurance. Considering all these coverages, expect to pay at least $2,000 to $4,000 annually.

Are you looking for the best commercial truck insurance providers on the market? Assured Standard has you covered! Check out our extensive review of the top insurers on the market today!

How Liability Protection Coverages Affect the Your Food Truck Insurance Premiums

Workers’ Compensation: $1,000 - $1,500

Workers’ compensation can shoulder the treatment and recovery fees if an employee suffers from a work-related injury, disease, or accident. The state mandates all businesses with at least one employee carry this policy.

Contents Insurance: $300 - $1,000

A contents insurance policy covers stolen, damaged, or vandalized items inside the truck but aren’t attached to the vehicle itself.

Commercial Auto Insurance: $1,500 - $3,000

This policy provides comprehensive personal, bodily, and property liability protection while your vehicle is moving. Coverage excludes liabilities that occurred while the unit is stationary.

General Liability Protection: $300 - $800

General liability ranks as the most crucial protection plan on this list. Every food truck business needs one. Fortunately, a $1 million policy would only cost you around $800 per annum at most.

If your food truck business cannot pay for these insurance coverages right from the get-go, sign up for each policy individually. Start with the minimal coverage needed, then gradually increase your protection plans. Consult your insurer as well to see if they can give a practical deal on the coverages you need.

Frequently Asked Questions:

What is the average cost of food truck insurance?

The overall cost of food truck insurance, considering all necessary coverages, ranges from $2,000 to $4,000 annually.

What type of insurance coverage is necessary for a food truck?

Food trucks generally need commercial auto insurance, workers’ compensation, contents insurance, and general liability insurance.

How much does workers' compensation insurance typically cost for a food truck?

Workers’ compensation insurance for a food truck usually costs between $1,000 to $1,500 per year.

What does contents insurance cover and how much does it cost?

Contents insurance covers items inside the truck that aren’t attached to the vehicle itself, typically costing $300 to $1,000 annually.

How much is general liability insurance for a food truck?

General liability insurance for a food truck, offering $1 million in coverage, can cost between $300 to $800 annually.

Explore our in-depth guide on Tractor Truck Insurance to broaden your understanding. Enhance your insights into the world of commercial truck insurance, complementing the information you're seeking about how much is commercial food truck insurance?

Do you still have doubts about how food truck insurance works? Assured Standard can help! Check out our in-depth guide explaining everything you need to know about protecting your food truck business with insurance.

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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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