What insurance is required for a food truck in Connecticut?
Food truck insurance in Connecticut typically consists of an owner's policy that includes general liability and property insurance. Consider an umbrella policy for your food truck to save money.
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UPDATED: Sep 15, 2020
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- While a food truck in Connecticut is a mobile business, it requires the same level of planning that any other business requires
- Buying insurance for a food truck is required in different ways, and you need to understand the coverage requirements and options before you finalize your food truck’s business plan
- Shopping around for low rates and bundling coverage may be effective ways to save money on your Connecticut food truck’s insurance needs
A Connecticut food truck may not seem like other types of businesses, but it nonetheless requires the same amount of planning and budgeting that any other business type requires.
In addition to developing delicious recipes for your menu items, turn your attention to the licensing and insurance regulations that you must comply with in order to finalize your business plan and launch your business on the right foot.
A food truck business is a restaurant, but it also is a commercial vehicle. Because of these two factors, you may need to invest in various types of business and automotive insurance to fully address all of the insurance requirements you need to meet.
You may also purchase optional insurance types for added benefits.
After all, you may face numerous risks associated with driving the food truck around town as well as with operating your business on a daily basis, and you need to fully address and plan for these risks through the purchase of insurance.
Many Connecticut food truck owners will determine that multiple insurance products are necessary for the benefit of their business. Before you can add the expense of these insurance premiums into your business plan, you need to shop around to find the best rates available.
A closer look at the coverage options that you may need or want to buy can help you to shop more effectively. Use our FREE quote tool to find auto insurance rates today!
Coverage Available for Food Trucks in Connecticut
Connecticut food trucks may have legal and lender requirements for auto insurance, but there are also several business insurance requirements and options to consider.
Savvy food truck owners need to understand the benefits associated with each coverage type before deciding how to set up a full portfolio of coverages.
Commercial Auto Insurance
Connecticut has auto insurance requirements for personal or private-use vehicles, and there are also liability auto insurance requirements for commercial vehicles.
In order to drive your Connecticut food truck on the road legally, you must purchase at least enough commercial auto insurance to comply with the state’s legal requirements.
Some people buy more than the minimum amount of commercial auto insurance required by the state so that they can further decrease their overall exposure to liability-related expenses.
Hired and Non-Owned Auto Insurance
You could lease or buy your food truck, and those who lease a food truck need to consider buying hired or non-owned auto insurance.
While commercial auto insurance is designed for those who own their food truck, hired and non-owned auto insurance meets legal coverage requirements if you rent your food truck from another person or party.
Connecticut does not require you to buy collision insurance for your food truck, but many lenders require you to have this type of insurance at all times until your food truck auto loan is paid in full.
If you have a loan on your food truck, discuss collision coverage requirements with your lender.
Some food truck lenders also have comprehensive insurance requirements.
Collision insurance pays for your expenses if you have a collision with another vehicle, and comprehensive insurance takes this a step further by also covering you for theft, vandalism, weather damage, and other events.
Comprehensive and collision insurance pay for your own vehicle repairs or for a full replacement, as opposed to liability auto insurance that pays for other parties’ accident-related expenses.
Connecticut businesses need to buy general liability insurance as well.
Business liability insurance is not the same as the auto liability insurance that is included in your commercial auto coverage.
General liability insurance covers you for business-related liability issues, such as if the awning over your food truck falls and injures a customer.
Food truck owners in Connecticut may benefit by purchasing property insurance, but this is not usually a requirement for many business owners.
Property insurance may relate to personal property in the truck, such as your kitchen appliances. This type of personal property insurance is usually added to an auto insurance policy upon request, and the limit can be customized to meet your needs.
If you own the land that your food truck normally sits on, property insurance may also be used to cover damage to the on-site features.
Land itself is not usually insured, but any developments or features on the property can be insured through this type of insurance.
If you hire employees in Connecticut, you need to be aware of the requirements for this type of insurance as well as the benefits it provides.
When employees are injured at work, your food truck business may have to pay for their lost wages, medical expenses, and more.
Workers’ compensation coverage pays for these expenses up to the limits of the insurance.
Another idea to consider is to buy an umbrella insurance policy. Umbrella insurance includes employee-related benefits, and it also has more comprehensive benefits to address all of your coverage needs.
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Bundling Your Connecticut Food Truck Insurance
It can cost a small fortune to buy all of the insurance you need to run a food truck business, and the premiums can directly eat into your food truck’s profits.
Keeping expenses as low as possible while still getting the insurance you need is important.
As you explore the many insurance companies that offer these coverage types, keep in mind that shopping around and bundling rates are both effective ways to save money.
Many Connecticut insurance companies offer a bundled policies discount, and this gives you a discount if you purchase several insurance products from the same company.
This discount may make a bundled package the most cost-effective option, but this is not always the case.
Before you buy coverage, explore quotes for both bundled and unbundled insurance policies to find the best rate available on your food truck’s insurance products.
Use our FREE quote tool to find auto insurance rates today!