Farmers Insurance, one of the nation’s largest multiline insurer groups, has announced the launch of a food truck policy, marking the company’s first foray into the growing food truck insurance marketplace. Through its new offering, Farmers has begun to offer licensed food truck owners a single policy that combines commercial automobile coverage for their truck with a restaurant business owner policy.
Utah and New Mexico are the first states where the policy is available to food truck entrepreneurs and restaurateurs. Throughout 2016, Farmers will introduce similar food truck package policies in an additional 24 states.
“At Farmers, we understand that consumer preferences and the needs of business owners are constantly evolving, and we are continuously looking for new ways to meet these changing demands for our customers,” says Jake Rothfuss, head of business insurance for commercial auto at Farmers Insurance. “The increased popularity of food trucks is an example of the impact of shifting consumer preferences, and it’s important for Farmers to be able to provide our business owner customers with the insurance they want to continue to be successful in this constantly changing economy.”
The Farmers food truck policy will offer food truck owners the option to obtain coverage for their truck or a truck attached to the stand-alone store. Food truck owners are often left to work with a complex mixture of separate policies, including commercial auto, business owner, and restaurant policies provided by different insurers. By combining these disparate coverages into a single food truck policy, mobile food entrepreneurs now have the option to select one policy for their food business on wheels.
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