Stationary Food Truck Insurance

Stationary Food Truck Insurance Ontario

As a food truck owner, you expand the options available for a tasty meal in your area and bring your unique culinary creations to an eager audience. A stationary food truck is an excellent way to explore niche cuisine and reach customers who may never have heard of the food you offer had they not spotted your truck and decided to give it a try. But running a food truck also exposes you to the risks of liability or property damage that could spell the end of your small business if you’re forced to pay those costs out of your own pocket.

The solution to that problem is stationary food truck insurance. Ontario brokers at Morison Insurance will find the right food truck insurance to match your insurance needs for your one-of-a-kind business. Call us today to speak with a licensed insurance broker and learn more about stationary food truck insurance in Ontario.

What Is Food Truck Insurance?

All types of businesses need the right business insurance coverage, and food truck insurance is a type of business insurance policy package designed to protect food truck owners from dealing with the astronomical costs associated with being sued in court. It can also cover the cost of repairing, restoring and replacing commercial property should it be damaged or destroyed by something like fire, a natural disaster, or theft.

If you have legal action brought against you or your property and its contents are damaged by a peril that is covered on your food truck insurance policy, you can expect to receive insurance compensation to deal with related expenses. When you consider that the cost of legal defence and settlement can easily exceed several million dollars or that your entire business property could be completely destroyed in a destructive event, it’s clear why robust food truck insurance is necessary to ensure your continued business success, no matter what happens.

Who Needs to Have Stationary Food Truck Insurance?

Anyone who operates a stationary food truck needs to invest in the protection afforded by the right stationary truck insurance. If your food truck isn’t going anywhere but rather has a permanent “home” where customers always know where to find you, you need business insurance that is specifically tailored to your needs as a stationary food truck owner. It’s worth noting that while mobile food trucks do need some of the same types of coverage as stationary food trucks, the mobile nature of those businesses means they also need different, specialized coverage that falls under another category.

What Types of Coverage Are Available for a Stationary Food Truck Insurance Policy?

Every business is unique, meaning every food truck insurance package needs to be tailored to address the needs of that particular business. There are some generalized types of insurance for food trucks, such as commercial general liability insurance and commercial property insurance that pretty much every business out there needs to have, and food trucks are no exception. But there are also coverages that can be added to your standard policies that pertain more directly to stationary food truck insurance. That includes adding product liability coverage to your commercial general liability, equipment breakdown, or business interruption coverage to your commercial property insurance. Here are a few types of coverage you will want to consider having as part of your food truck insurance package.

Commercial General Liability (CGL)

As a basic coverage that is a must-have for every business, regardless of industry, commercial general liability insurance provides you with insurance compensation for liability costs such as attorney fees, court fees and other expenses related to your legal defence if you are sued because you or your employee allegedly caused third-party property damage or bodily injury. Should you be held liable and ordered to pay a settlement to the plaintiff, CGL insurance will also apply to the settlement costs, up to the liability limits on your food truck insurance policy.

Suppose you are operating your stationary food truck in winter, for example, and you fail to notice a slick patch of ice outside your order window. If a customer slips on the ice and injures themselves, they could choose to sue you for causing third-party bodily injury. In that situation, you would be eligible to file a commercial liability claim on the CGL portion of your food truck insurance and receive compensation to deal with the resulting legal costs.

Product Liability Insurance

Product liability coverage can be added to your commercial general liability policy, and it’s highly recommended for food truck insurance because the food and drinks you serve to your customers are considered products. Any business that sells edible or ingestible products needs to be extra cautious about the possibility of food poisoning, allergic reactions and other types of harm that can potentially be caused by eating your food. That includes strict food safety practices and avoiding food spoilage, but no matter how careful you are, there’s always the possibility that your products could cause harm or you could be sued for allegedly causing harm. Even if you aren’t found liable, you still have to defend yourself in court against those allegations. Product liability insurance will apply to your legal costs and the plaintiff’s medical costs up to your policy limits.

Commercial Property Insurance

Part of properly insuring your stationary food truck business is ensuring you have coverage to repair or replace your food truck and its contents if it’s damaged or destroyed by a natural disaster, fire, flood, theft or vandalism. Commercial property insurance provides the coverage necessary to do just that so you can quickly bounce back after a disaster and get back to doing what you do best.

Equipment Breakdown Insurance

Food doesn’t just appear out of thin air, which means commercial kitchen equipment is crucial to any food service business. If equipment such as a commercial refrigeration unit or a grill top is damaged or destroyed by a fire, the cost of repairing or replacing it will fall under your commercial property insurance. But if your equipment suffers a breakdown or a mechanical failure, you need to have equipment breakdown coverage added to your commercial property food truck insurance policy to get the funds to repair or replace it.

Business Interruption Insurance

While damage to your food truck and equipment is already covered by commercial property insurance, it’s important to remember that repairs and replacements don’t happen overnight. Suppose the worst happens, and your food truck is destroyed in a fire. While the process of getting the truck and all your essential equipment replaced is underway, you obviously won’t be able to bring in any revenue—but you’ll still have to handle ongoing costs. Business interruption insurance covers expenses like employee wages, lease agreements, and your lost income so you can keep your business afloat during the period of time before the repairs or replacements are complete, making it an important addition to your stationary food truck insurance package.

Additional Types of Food Truck Insurance Coverage

• Commercial Auto Insurance
• Cyber Liability Insurance
• Crime Insurance Coverage
• Liquor Liability Insurance
• Special Event Liability Insurance

What Determines the Cost of Food Truck Insurance in Ontario?

As with any insurance, there are a large number of factors that insurance companies will look at when they’re attempting to determine risk exposures and levels to come up with a quote for food truck insurance. Ontario insurers will consider factors such as:

• Your experience level
• Insurance claims history
• Annual and projected revenue
• Number of employees
• Location of stationary food truck
• Type of equipment and other business assets
• Condition of food truck
• And more

When you contact a licensed broker at Morison Insurance, you can rest assured we have the expertise to ask the right questions and gather all the information necessary to give insurance providers a complete picture of your circumstances to get an accurate food truck business insurance quote.

Where Can I Get A Quote for Stationary Food Truck Insurance?

If you’re working on starting up a new venture and have questions about insuring your food truck business, one of your first steps should be to call the expert brokers at Morison Insurance. From commercial auto insurance and commercial general liability to business interruption and product liability, our reliable brokers will track down multiple quotes that meet your food truck insurance requirements so you can select the one that offers you the right protection against financial setbacks. Give us a call today at 1-800-463-8074 or fill out the form on this page to get a quote and find out more about stationary food truck insurance. Ontario insurance experts are waiting to take your call and get you the coverage you need to ensure your success and keep your food truck in business!