Last updated: February 1, 2024
If you’ve spent any time looking for food vendor liability insurance, you know that finding the right program to protect your business is harder than it sounds. With so many different providers and policies, it’s genuinely challenging to know:
- What coverage your business actually needs
- How much you should actually pay
Well, you don’t need to stress about it any longer. Your friends at Food Liability Insurance Program (FLIP) are here to help you know exactly what to look for and show you why FLIP is the best place to get food vendors insurance. Let’s get started!
Does It Cover Your Business Risks?
As a food vendor, your business faces a unique set of liability risks and requires a unique combination of coverages to protect itself from claims. When looking at a food vendor insurance program, it’s important to look at the included policies to determine if they meet your business insurance needs.
Having in-depth knowledge of your business’ insurance needs can be a challenge in itself, but there are a few fundamental coverages that just about every food vendor business needs:
- General Liability: can cover the cost of third-party bodily injury and property damage claims, products-completed operations claims, copyright claims, personal advertising injury claims, and more.
- Inland Marine (Tools and Equipment): can cover the cost of damages to your business equipment as well as some cases of theft.
- Damage to Premises Rented: can cover the cost of damages to a rented property, such as a commercial kitchen or booth space at an event.
Depending on your business operation, you may need additional policies or endorsements to protect your business from claims. Here are a few additional recommended policies:
- Excess Liability: increases the limits of your liability coverage, providing more coverage for claims.
- Professional Liability: can cover the cost of third-party negligence claims that arise from lessons or demonstrations done as part of your business operation.
- Trailer Endorsement: extends your liability coverage to your food trailer when it is not attached to your vehicle, which would otherwise be excluded in a policy. (When attached to your vehicle, it should be covered by your auto insurance.)
- Cyber Liability: can cover the cost of first- and third-party claims that arise from cyber security breaches within your business.
Does It Provide Good Coverage for the Price?
You’ll want to consider the amount of food vendor insurance cost for its coverage to make sure you’re getting the best food vendors insurance for your business.
To get a good idea as to the amount of coverage a program provides, it’s important to know a policy’s limits—or rather, the total amount of coverage it provides. There are two limits you need to understand when comparing policies: the occurrence limit and aggregate limit.
Occurrence Limit
This is the total amount of coverage your policy can provide per claim filed.
Aggregate Limit
This is the total amount of coverage your policy can provide for the duration of your policy—usually one year.
When you understand which policies are in a program and how much those policies cover, you can better understand if the program is worth the price.
For example, FLIP’s food vendor insurance program costs just $299 per year or $25.92 per month including:
- General Liability: $2 million aggregate limit ($1 million per occurrence)
- Inland Marine: $10,000 aggregate limit ($5,000 per occurrence)
- Damage to Premises Rented: $300,000 aggregate limit ($300,000 per occurrence)
On top of these coverages, you get free unlimited additional insureds, instant 24/7 policy access, and additional policy options for extra coverage!
Does It Contain Hidden Fees or Additional Costs?
Last, but certainly not least, it’s important to know whether an insurance program contains additional costs for the coverage you get.
Many insurance providers charge deductibles when claims are filed. The cost of these deductibles varies by provider, and some policies don’t have any at all.
For example, with FLIP you’ll only be charged a $250 deductible for food vendor claims filed on an inland marine policy and never for general liability.
Protect Your Business Today With Food Vendor Insurance
In just minutes FLIP can help you protect your business with a customized, high-quality, and affordable food vendor liability insurance plan.Protect your business today and gain the peace of mind that comes from having great coverage when you need it most.
