What insurance is required for a food truck in Indiana?

Food truck insurance in Indiana typically consists of a business owner's policy that includes general liability and property insurance coverage. Compare quotes online to save money.

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Zaneta Wood, Ed.S. has over 15 years of experience in research and technical writing bringing a keen understanding of data analysis and information synthesis to reach a wide variety of audiences. She studied adult education and instructional technology at Appalachian State University as well as technical and professional communication at East Carolina University. Zaneta has prepared technical p...

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Joel Ohman is the CEO of a private equity backed digital media company. He is a CERTIFIED FINANCIAL PLANNER™, author, angel investor, and serial entrepreneur who loves creating new things, whether books or businesses. He has also previously served as the founder and resident CFP® of a national insurance agency, Real Time Health Quotes. He has an MBA from the University of South Florida. Jo...

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Reviewed by Joel Ohman
Founder & CFP®

UPDATED: Sep 15, 2020

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Here's what you need to know...

  • Food truck businesses in Indiana require several types of insurance products to comply with state and lender requirements, and some may also benefit by purchasing optional insurance type
  • The cost of your various types of food truck insurance premiums should be added into your financial projections and business plan
  • A detailed food truck business plan identifies potential risks that the business may face as well as the types of optional insurance products that may be used to offset that risk

If you have been dreaming about running a food truck business in Indiana, you may be excited to finally take your business idea to the next level.

However, before you can start serving delicious menu items to your food truck customers, you need to prepare a business plan that outlines potential risks as well as expenses that you may be responsible for.

An Indiana food truck business may face risks that range from auto accidents and business liability issues to workplace injuries and more.

As a food truck owner in Indiana, it is important that you explore and understand different insurance products that may be used to pay for devastating or expensive situations that you may face.

You also need to be aware of the regulations and requirements for insurance, licensing, and more in this state before you start your business.

Due to insurance expenses, licensing, and more are fixed costs associated with doing business, they should be researched and accounted for in a business plan for your food truck.

Compare car insurance quotes right here to find the coverage that’s right for you!

Coverage Available for Food Trucks in Indiana

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An Indiana food truck business is a mobile business, and this means that you need to comply with the state’s commercial auto insurance requirements as well as requirements for business insurance and employee-related insurance.

You should spend time understanding the options available and determining how the coverage types may benefit you before you start your business. Remember that insurance products should be in place on day one of your operation.

Commercial Auto Insurance

Indiana requires its drivers to purchase auto insurance, and it holds similar liability insurance requirements for commercial vehicles.

The state’s auto liability insurance requirements extend to food truck businesses, and the requirements represent the minimum amount of auto insurance that you should buy.

You may consider buying additional auto insurance for the added benefits that it offers, and this is because it can decrease your out-of-pocket costs if you are in an accident.

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Hired and Non-Owned Auto Insurance

Standard commercial auto insurance requirements are in place for Indiana food truck owners that own a truck, but some food truck owners lease their truck from another person.

If this is the case for you, you need to explore the costs associated with hired and non-owned vehicle insurance in Indiana.

Collision Coverage

Indiana drivers are not required by law to buy collision or comprehensive insurance.

These two types of coverage pay for your own vehicle replacement or repair work, and this is opposed to the required liability insurance that pays for other people’s expenses if you cause an accident.

Lenders that extend food truck loans may require you to buy collision insurance, so you need to be aware of this potential requirement with your own auto lender as well as the overall benefits associated with having this optional type of coverage.

Comprehensive Coverage

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Comprehensive insurance pays for losses related to the following:

  • criminal activities
  • bad weather
  • theft

General Liability

Your commercial auto policy in Indiana will include a liability component, but you may also be required to buy general liability insurance for the business itself.

While there are liability issues associated with driving a food truck, you also have business liability risks associated with running your business.

You need to research the state’s general liability insurance requirements as they pertain to your specific type of business.

Property Insurance

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Some Indiana food truck operators make use of property insurance in different ways.

The personal property insurance option that combines with your auto insurance policy may provide you with compensation if your food truck’s appliances or other fixtures inside the truck are damaged or stolen.

Real estate property insurance may also be purchased if you own the land where you park your food truck. Remember that land is not usually insurable, but any improvements, such as an outdoor dining area for your customers, may be insured.

Workers’ Compensation

Indiana food trucks may be open for many long hours seven days per week, and you may need to hire several employees to assist you with daily operations. Workers can be injured on the job, and you will need to buy workers’ compensation insurance to pay for related expenses.

This may include an employee’s medical bills as well as wages associated with time taken off of work to recuperate, and your business may otherwise be responsible for paying these expenses out of your own funds if you are not properly insured.

Umbrella Policy

Some Indiana food truck businesses have an umbrella policy. An umbrella policy provides your business’s employees with unique benefits, but the coverage also extends to other areas of your business.

While this is an optional type of business insurance, you should analyze the benefits that it can provide to your food truck operation.

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Bundling Your Indiana Food Truck Insurance

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Buying insurance for your food truck business should be done before you serve your first meal or snack to your customers.

A smart idea is to itemize the types of insurance that you want or need to buy for your food truck business and to begin comparing quotes for these needs through reputable insurance companies.

Remember that shopping online for Indiana insurance is an efficient and effective way to identify savings on the coverage your business needs. Bundling your policies together with a single provider may also qualify you for a discount.

While bundling your food truck insurance products together may result in simplified financial management and the qualification for a discount, this may not always be the best idea.

Indiana food truck owners need to explore all coverage options for bundled and individual policies to determine which option is most affordable.

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