Purchasing a new food truck is like owning a business on wheels. So as you travel to your parking destinations, it's important to protect the business in case of any accidents or injuries. One way to offer extra protection is through auto insurance coverage. Along with a standard policy, there are four additional coverage options you can add to your food truck. These specific coverage options will help protect multiple aspects of your food truck business. The investment in insurance can go a long way in making sure that your food truck thrives and is ready to handle any crisis along the way.
One of the more common options that you can increase for your food truck is comprehensive coverage. The main reason to get comprehensive coverage is because it can protect your food truck for any damage that is not associated with a car accident. For example, one of the main categories that comprehensive coverage can help you with is fire damage. If a cooking fire damages the vehicle, a comprehensive coverage package can help pay for the repairs and restoration of the food truck. This option also covers vandalism, weather damage, and animal damage.
Personal Property Coverage
Aside from the food truck itself, the cooking and prep items you have inside are typically some of the most expensive items that you're transporting. If your food truck is involved in an accident that destroys these items, then you will want personal property coverage to help pay for the damage. This type of insurance coverage is used to value your food truck property and reimburse you for it if it is destroyed. When signing up for this coverage, an insurance agent will value your food truck items and give you an estimate on monthly costs.
Property Damage Liability Coverage
When driving and parking a food truck everyday, you're eventually bound to run into small hazards or curbside incidents. These non-car related accidents can be covered through property damage liability coverage. For example, if your food truck hops a curb and damages a street post, this insurance coverage option will help pay for the damages and costs. Additional roadside hazards like street signs, fire hydrants, and sewer grates are all included through this coverage option.
Along with public street items, this type of coverage can help with privately owned property damage. For example, if your food truck is hired to park at a baseball game and you accidentally damage some fencing, the insurance coverage will help pay for the costs. The total amount that is covered will depend on the deductible that you agree to pay for.
Custom Equipment Coverage
After purchasing your food truck, you will likely upgrade the features to customize it and make it your own. These features may not be covered with a standard insurance plan, but they can get protected through custom equipment coverage. Typically, audio and video equipment are insured through this coverage option. On a food truck, this can include loud speakers to call out order numbers, LED screens to display menus, or even tablets used as digital cash registers. If any of these items are damaged on the truck, you can get reimbursed and easily replace them to keep your food truck business running smoothly.
When signing up for this coverage, it's important to list the exact type of equipment you have and showcase the value by providing receipts. This allows you to have the best coverage and right amount of money to properly replace the equipment if it is damaged.
Talk with an insurance agent, such as an insurance broker at Hillis Insurance Agencies Ltd, to get quotes and figure out the exact details for your food truck. This will ensure that everything is properly insured.