Commercial Property Insurance For Food Vendors
| CoverWallet | NEXT (Best) | Thimble | Hiscox |
|---|
| Building coverage limit (minimum) | $50,000 | $350,000 | $25,000/$500,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $24,000 | $25,000/$500,000 | $25,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | $2,500 |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded |
| Money and securities | Excluded | $2,500 | $1,000 | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded |
is useful if you’re the owner of a food vending franchise that operates through several food trucks, food stands, or food carts.
You can use commercial property insurance to cover the tangible assets of your food vending franchise. For example, you can use this policy to recover financial losses if the office or any other building that you own, lease, or rent gets damaged or destroyed due to:
Fire
Theft
Vandalism
Malicious mischief
Sinkhole collapse
Volcanic action
Weather
Impact
Vehicles
Aircraft
Falling objects
Of course, tangible assets aren't only limited to the building you own as a big-time food vendor. Rest assured that commercial property insurance can also help if valuable papers and records, accounts receivable, cooking equipment, food carts, and food stands sustain damage or get destroyed because of the perils we mentioned above.
So how do you get commercial property insurance? You’ll find this insurance easily. Commercial property insurance is a common inclusion in tailored food insurance plans such as food cart insurance. Use the table above to compare the commercial property insurance of companies we recommend for food vendors.
Business Owner’s Policy For Food Vendors
| CoverWallet | Thimble | NEXT (Best) | Hiscox |
|---|
| General liability aggregate limit | $2,000,000 | $2,000,000 | $500,000/$2,000,000 | $300,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $25,000/$500,000 | 350,000 | $25,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes |
Similar to juice bar insurance programs, food vendor insurance programs might allow you to bundle general liability insurance and commercial property insurance into a business owner’s policy.
A business owner’s policy is a fusion of general liability insurance and commercial property insurance. That said, this is an insurance policy that grants protection against liability lawsuits and business property damage or loss.
Depending on which insurance company underwrote it, a business owner’s policy for food vendors might offer optional policies such as cyber liability coverage, tools and equipment coverage, hired/non-owned auto liability coverage, and more.
Use the table above to compare the business owner’s policy of companies we recommend for food vendors.
| NEXT (Best) | Thimble | Hiscox | FLIP |
|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $5,000/$25,000 | $5,000/$10,000 |
| Covers hired and borrowed equipment? | $5,000/$10,000 | $2,500/$5,000 | No | No |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | No | No |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Tools and equipment insurance will cover the repair or replacement of ovens, fryers, stoves, mincers, meat grinders, blenders, and other equipment you use for preparing food. Coverage applies if damage or loss is caused by theft, vandalism, and other covered perils. Tools and equipment coverage isn’t exclusive to food vendors. Companies also offer this in their hot dog cart insurance programs and other related protection plans.
Use the table above to compare the tools and equipment insurance of companies we recommend for food vendors.
Workers Compensation Insurance For Food Vendors
is coverage for employees, if there are any. You can decide not to get workers comp if you’re working solo. However, we suggest you do otherwise.
By having workers' compensation insurance, you can get the appropriate treatment and financial assistance for a work-related injury. This insurance will cover hospital bills, medication, lost wages, rehabilitation, and even funeral expenses and allowance to dependents in case of death.
An employer's liability coverage can be optionally added to workers' compensation insurance. This will take care of settlements and legal fees if an employee sues you after sustaining a work-related injury or disease.
Liquor Liability Insurance For Food Vendors
Liquor liability insurance might be handy if you’re a food vendor who also sells alcoholic beverages. While this policy is usually included in liquor store insurance programs, there are some food vendor insurance packages that allow you to add liquor liability coverage to general liability insurance.
will take care of expenses in case a drunk customer files a claim for bodily injury or property damage. If the drunk customer hurts people and victims raise a lawsuit against you, then this insurance can still help cover attorney fees and settlements.
One Day Food Vendor Insurance
What works as a one day food vendor insurance is a short-term general liability policy. A short-term general liability policy provides coverage for a few hours, an entire day, or several weeks. This has a $1 million-$2 million per occurrence and aggregate limit. Optional policies might be included.
Insurance companies that sell temporary food vendor insurance for one day are Hiscox, Thimble, and The Hartford.
Food Vendor Insurance For Festivals
The organizers of the festival have their own festival insurance that takes care of liabilities, equipment damage or loss as well as event cancellation. However, they’ll require you to get the appropriate coverage and name them as additional insureds. Your existing general liability policy can be used as a food vendor insurance for festivals. Another option is to get a short-term general liability policy in case you want an additional level of protection.
Food Vendor Insurance Cost
| Cost per Month | Cost per Year | Deductible |
|---|
| General liability insurance | $35 | $420 | $0-$500 |
| Commercial property insurance | $39 | $468 | $1,000-$2,500 |
| Business owner’s policy | $65 | $780 | $500-$1,000 |
| Liquor liability insurance | $45 | $540 | $500-$1,000 |
| Tools and equipment insurance | Cost included in general liability insurance | Cost included in general liability insurance | $0-$500 |
The average food vendor insurance cost is $35 per month or $420 per year for a $1 million general liability coverage. Factors that affect the cost of premiums are business history, business size, number of employees, annual revenue, and location. Here’s another table that shows how much the best companies charge for their $1 million general liability insurance.
| Cost per Month | Cost per Year | Best for |
|---|
| FLIP | $24.92 | $299.04 | Food vendor insurance with dedicated custom limits |
| NEXT | $25 | $300 | Best overall; Fastest general liability insurance for food vendors |
| CoverWallet | $26 | $312 | Food liability insurance quotes comparison online |
| Hiscox | $28 | $336 | Food vendors looking for worldwide liability coverage |
| Thimble | $30 | $360 | Short-term liability insurance |
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It would be best to compare the different food business insurance quotes and gain a better understanding of what is on offer. Click the "Get Quotes" button on this page to start.
