What insurance is required for a food truck in Oklahoma?

Food truck insurance in Oklahoma typically consists of an owner's policy that includes general liability and property insurance. 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...

  • Various types of insurance are needed or beneficial for any type of business you run in Oklahoma, and this includes a food truck business
  • Because a food truck is a commercial vehicle, as well as a food services business, both auto and business insurance are required
  • Getting a few quotes from leading Oklahoma insurance companies is a wonderful way to find a money-saving premium cost for the insurance products your business needs

Owning a food truck in Oklahoma is an excellent way to earn a living because it allows you the opportunity to be your own boss while also sharing your delicious recipes with others.

As wonderful as it may be to run a food truck business in this centrally located state, you should be aware of and plan for specific risks that you may face through regular operations.

Food truck businesses face typical food services risks as well as risks associated with driving a commercial vehicle through the state, and buying different types of commercial insurance products is a great way to prepare for these risks.

Preparing a detailed business plan for your Oklahoma food truck business is a smart idea, and this plan should itemize each potential risk that your business could realistically face.

More than that, it should analyze the benefits associated with buying different commercial insurance products as a means to mitigate the risks.

The cost each insurance premium that you are thinking about buying for your Oklahoma food truck business should be researched and added to your business plan.

You have the option to buy business and auto coverage from multiple providers, or you can bundle your policies together to potentially qualify for a bundled policies discount.

Because each situation is unique, you must carefully explore both options with multiple providers in order to determine the most affordable way to structure insurance coverage for your Oklahoma food truck business.

Compare car insurance quotes right here to find the best rate for the coverage you need. Enter your zip code into our free rate comparison tool above to get started.

Coverage Available for Food Trucks in Oklahoma

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In Oklahoma, businesses must comply with the state’s auto insurance requirements for commercial vehicles as well as requirements for different types of business and employee-related insurance products.

Because your business’s financial data and budget may be significantly impacted by the many types of insurance products that you may need or want to buy to protect your food truck in Oklahoma.

You need to understand what these insurance products are and how they could potentially impact your business.

Commercial Auto Insurance

Any vehicle on Oklahoma roads must be properly insured, per state law, and commercial vehicles like a food truck must comply with specific regulations and rules.

The commercial auto insurance requirements in this state are centered around liability insurance, which pays for another party’s expenses if you cause an accident.

Because liability insurance does not pay for your own vehicle repairs if you need to file a claim, many commercial drivers will add optional collision or comprehensive insurance to a policy.

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Hired and Non-Owned Auto Insurance

While some food truck businesses in Oklahoma are owner-operated, other businesses operate out of a leased truck. Leased food trucks must be properly insured as well, and hired or non-owned auto coverage is specifically designed for this purpose.

If you intend to lease your food truck or if have already signed a lease with another party, it is important that you understand how the liability component of non-owned food truck insurance could benefit you.

Collision Coverage

In some cases, food trucks in Oklahoma are purchased with a vehicle loan, and many commercial lenders require collision and comprehensive coverage on vehicles until the loan balance is paid in full.

However, these two coverage types are not legally required per state auto insurance guidelines.

Even when not required by a lender, collision insurance offers true benefits to you because it can pay for most of the repair costs of your vehicle if you are involved in a car accident with your food truck.

Comprehensive Coverage

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Similar to collision insurance, comprehensive food truck insurance in Oklahoma is not legally required by the state. However, a lender may require it in some cases.

Comprehensive insurance provides you with benefits for a wide range of mishaps and damaging events, including those related to the following:

  • wildlife
  • bad weather
  • vandalism
  • theft

General Liability

Business insurance is a typical requirement in Oklahoma regardless of the industry you are involved in. With general liability business coverage, your business is financially protected against a wide range of liability risks.

These risks include slip and fall accidents near your food truck, burning accidents if your food is too hot, and more.

Property Insurance

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Many Oklahoma food truck owners need to add a personal property insurance component to their auto policy.

Typical collision or comprehensive food truck coverage pays for repair work on the vehicle, but personal items or appliances inside the truck are not covered.

Personal property insurance must be purchased separately and added to your commercial auto policy as an optional type of insurance upon request.

While most Oklahoma food trucks are driven to different locations regularly, some food truck operators buy land that is dedicated to the food truck business.

If this land has any developments or improvements on it, such as a parking area for your guests or a special dining area on an outdoor deck, your business may benefit by purchasing real estate insurance.

Workers’ Compensation

Whether you have a full team of staff members or you only have one employee who works on a part-time basis for you, you must understand the benefits associated with buying workers’ compensation coverage.

Your workers could be injured at any time from burns, slippage, cuts, and more, and you are responsible for their medical attention as well as for their recuperation time. Workers’ compensation coverage gives you the financial means to pay for these expenses.

Umbrella Policy

An Oklahoma food truck business may also buy an umbrella insurance policy to obtain important employee-related benefits. An umbrella insurance policy for a food truck also offers non-employee benefits for your added security and protection.

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Bundling Your Oklahoma Food Truck Insurance

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Food trucks in Oklahoma can be very lucrative, but they come with many risks that you must plan for.

Bundling the different types of food truck insurance together that are required or beneficial could be a convenient way to address these risks and could help you to qualify for financial savings through a bundled coverage discount.

Because this discount does not always create the most affordable price for insurance, however, you should thoroughly explore all coverage options that are available for your Oklahoma-based business.

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