My parents and I want to start a mexican catering truck were curios to know as non-experts who offers the best low cost insurance.
Total Comments: 1
Posted: Wed Jun 02, 2010 09:37 am Post Subject:
There is no easy answer to "who offers the best low cost insurance." What I think is best and low cost might not interest you at all.
A mobile catering business as you ponder has multiple risks. You need coverage for liability due to negligence in food preparation and handling (intoxication, sanitation, contamination risks), as well as the potential "hot coffee in the crotch" claims.
You'll need a Business Auto Policy to cover your driving activities and negligence.
You'll probably want coverage for the cooking/storage/food service equipment on the vehicle in case of fire, explosion, theft.
If you have any employees (other than immediate family members), you'll have a need for Workers' Compensation insurance, too. For any food service operation, especially a mobile one, WC rates are among the highest due to the frequency of slip and fall, back injuries, knife wounds, burns, you name it, if it can happen in a non-moving kitchen, it can happen in a mobile kitchen at least twice as easily. So this is not going to be inexpensive.
So the term "low cost" is probably not something that would really be in your insurance vocabulary.
Having said that, the 2010 liability policy I have for my small off-premise catering business is less than half the cost of the policy I had last year. Same exclusions, but more coverage. So I'm not unhappy. The new policy is from The Hartford. I don't represent them, and obtained the policy through my local broker.
Posted: Wed Jun 02, 2010 09:37 am Post Subject:
There is no easy answer to "who offers the best low cost insurance." What I think is best and low cost might not interest you at all.
A mobile catering business as you ponder has multiple risks. You need coverage for liability due to negligence in food preparation and handling (intoxication, sanitation, contamination risks), as well as the potential "hot coffee in the crotch" claims.
You'll need a Business Auto Policy to cover your driving activities and negligence.
You'll probably want coverage for the cooking/storage/food service equipment on the vehicle in case of fire, explosion, theft.
If you have any employees (other than immediate family members), you'll have a need for Workers' Compensation insurance, too. For any food service operation, especially a mobile one, WC rates are among the highest due to the frequency of slip and fall, back injuries, knife wounds, burns, you name it, if it can happen in a non-moving kitchen, it can happen in a mobile kitchen at least twice as easily. So this is not going to be inexpensive.
So the term "low cost" is probably not something that would really be in your insurance vocabulary.
Having said that, the 2010 liability policy I have for my small off-premise catering business is less than half the cost of the policy I had last year. Same exclusions, but more coverage. So I'm not unhappy. The new policy is from The Hartford. I don't represent them, and obtained the policy through my local broker.
Add your comment