Chicago Ice Cream Vendors Are Ready. Important Considerations for Their Ice Cream Vending Truck Insurance
by Ed Snaineh
During early spring times vendors of ice cream start their shopping for the appropriate coverage for their ice cream vending trucks in the Chicago metropolitan area. Most ice cream vendors place the maximum focus on getting the affordable ice cream vending truck insurance rates. While rates are very much important, other considerations should not be ignored during the shopping process and after obtaining your ice cream truck insurance policy.
Shopping For The Right Insurance Policy, Not Only Premium
Shopping for insurance to cover your ice cream vending truck should not be hard. There are not many companies that offer this coverage and unlike personal auto insurance, there are fewer companies in the Chicago area that are willing to sell insurance for ice cream vending trucks. Start looking for quotes from sources around you including, including ice cream wholesalers and other ice cream vendors and online search using the internet.
Insurance rate is of course a primary concern for every ice cream vendor. But as you are choosing the cheapest rates, think about the following:
- Make sure that you are getting a quote and policy proposal for a commercial vehicle. If you do not stress the fact that your 'van' is a commercially used vending vehicle then you might not getting the right policy. Wrong coverage is almost equal to no coverage!
- Make sure that you get the appropriate liability coverage that fits your needs or the need of your business. Some companies providing this coverage offer it only at minimal limits. The minimum limits of liability on ice cream vendor truck is $20,000 bodily injury per person, $40,000 bodily injury per accident, and $15,000 in property damage per accident. These limits may not be suitable for a business or business owners with significant wealth. Many governmental bodies, municipalities, and counties in Illinois require that you have a minimum of $1,000,000 in liability.
- Comprehensive and Collision may not be really necessary. If you decide to buy it make sure to ask your agent if your company is also covering the freezing equipment and other equipment.
- You might have to purchase general liability coverage for your ice cream vending business, which will provide coverage in the event your actions as a seller (not truck or as a driver) cause bodily damages to others (For example, if the ice cream you sell causes bodily harm to others.) Again working in a territory belonging to a village or county may require that you get this coverage before the local authorities allow you to sell ice cream in their territory.
- Make sure to get workers compensation if you hire others to drive or help. Your business will be breaking the law if your corporation is operating without workers compensation. Also, some municipalities and villages will not allow you to get a vending permit unless you have workers compensation.
Make sure to disclose all of the people who will be driving the ice cream truck. Keep in mind that failure to disclose other drivers may lead to declination of coverage. If you include a driver less than 25 years of age your premium will go up. Also, many insurance companies do not allow any drivers age 20 or under to be driving a commercial vehicle. You are taking too much risks if you allow young drivers under age 25 years to drive while not on the policy.