Farmers Insurance, one of the nation's largest multiline insurer groups, has announced the launch of an innovative food truck insurance policy in New Mexico, marking the company's first official 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.
New Mexico is one of the first two states, along with Utah, where the policy is now available to food truck entrepreneurs and restaurateurs. Over the course of 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," said 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 innovative 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.
Currently, 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.
With this new policy offering, Farmers aims to solve the growing need for a single food truck policy that combines the elements of a restaurant, business owner and commercial auto policy into one.
Farmers is making it simple for food truck owners to quickly and easily select the coverage they want by calling their local Farmers agent.
Additionally, food truck entrepreneurs currently insured with other carriers can contact Farmers at the following toll-free number: 1-800-FARMERS, as well as visit Farmers.com to learn more about this innovative coverage through Farmers.