Whether it's pizza, tacos, or gourmet meals, food trucks of all shapes, sizes, and cuisines are popping up across the country. Comparatively low overhead, an exciting new trend, and bringing a restaurant directly to the people are just some of the reasons food trucks are pulling into parking lots everywhere.
The Charlotte Food Truck scene is growing. Thinking of starting your own? Here's what you need to know to protect yourself, your future customers, and your dream business.
Treat Your Food Truck Like a Business
Sure, food trucks may seem like an easier option than opening a restaurant, but it's still a business. Food trucks have plenty of the same worries, risks, and considerations as any other business. There are several things you're going to need to have before you start:
- Business plan
- Marketing plan
- Equipment and inventory
- Safety regulations and health codes
- Business insurance
Business Insurance for Food Trucks
You might already know you need general liability insurance but there are so many other risks involved in any business, that you'll need to make sure you have the right coverage for your food truck business, as well.
- General liability protects your business when customers, vendors, or non-employees are injured or experience property damage while visiting your food truck. At least $1 million in coverage is standard but every business's needs are different.
- Liquor liability is only needed if you make alcohol available to customers or allow them to bring it to your venue. This kicks in when there are alcohol-related incidents including car accidents after patrons leave.
- Workers compensation protects your employees if they're injured or become ill while at work. Medical expenses and lost wages are paid to your employee, and your employee is prevented from suing you for additional damages.
- Property insurance will cover you if any property in your care is damaged or lost.
- Cyber liability is a good option if you take orders - including payment information - over the web. If your system is hacked, even if it's a third-party payment or ordering system you use, and your customer's data is breached, you'll be covered.
- Hired and non-owned auto insurance is perfect for employees who may need to drive their own vehicle or a rented car to run errands, drive to work locations, or any other driving they have to do while on the job.
While you're planning your food truck business and dreaming of all the great food you're going to make, be sure to factor in your insurance needs. It may not be as exciting as duck confit served in a parking lot, but insurance is what will keep your business going if disaster strikes.
When you're ready to start your food truck business, contact us here at Charlotte Insurance so we can work up a quote that protects you, your customers, and your business.