Purchasing commercial auto insurance for your catering business requires careful planning and consideration. Your business often depends on your vehicles to get food to and from locations. A breakdown, a loss due to fire or even theft could mean your business not only has to recoup that loss, but also the loss of customers as well. Take a closer look at the types of coverage available to you for commercial auto insurance and the way it can help to reduce some of your risks in operating your business.
There are more than 11,000 catering companies in the country and revenue reaches $8 billion each year. To protect your business, invest in comprehensive coverage for all of these risks. Your commercial auto insurance should include:
- Liability coverage, both for the business and for the vehicle. Your commercial vehicle liability coverage should provide ample protection beyond what the law may require. An accident could lead to expensive claims amounting to millions of dollars in some cases.
- Food spoilage is another area of concern. If your catering vehicle maintains freezers or refrigerators, you need to protect this high-end equipment (that’s often quite valuable). A mechanical failure or a power outage for an extended period of time puts your business at risk. Commercial auto insurance should provide for protection against this.
- Property protection is also important. What if a flood occurs and leaves your vehicle inoperable? What if it is stolen or vandalized? Business property insurance should protect the value of repair or replacement of the vehicle itself.
- Equipment breakdown on a larger scale is necessary for those businesses with food truck style storage and industrial kitchen equipment in place. This is less common for catering companies.
Do you have the commercial auto insurance you need? Updating or improving the amount of coverage you have can help you to protect your business from suffering substantial losses in these instances. It can also help to keep your business protected against claims made against it, such as after a car accident. Don’t overlook the importance of this type of business insurance for your catering company, as well as coverage for other risks as well.
Are your vehicles covered?
Call Concise Insurance Services at 510-534-6293 for more information on Santa Clara commercial auto insurance.