If you operate a farmers’ market, ice cream cart, or concession stand for a fair or sporting venue, summer is likely your peak operating season. Which means that, as the temperatures rise, so do your insurance risks.
Here’s an overview of how to keep your business safe and sound with adequate liability insurance as you gear up for another busy season.
Make Sure Your Permits and Licenses are Up-to-Date
Every state, city, and municipality has its own rules about how, where, and when concession stand businesses can operate and what official documents they must have to do so. Insurance companies won’t extend a policy to a concessionary business that lacks appropriate permits to operate, so before you call your agent to update your policies, make sure you take care of all the licensing paperwork you need.
Once you’ve got legal permission to do business, it’s time to choose the business insurance products that will keep your inventory and investments safe from loss and damage.
General Liability Insurance for Concession Stand Operators
General Liability Insurance is the baseline for any business owner, but the coverages included in a GLI policy vary from industry to industry. Because you’ll be doing what’s considered “off-premise” food sales, you’ll need to obtain special additional insured coverage.
- Owners of the locations where you plan to sell (e.g., a football stadium or parking lot) will most likely want to be named as an additional insured on your insurance policies.
- If you plan to sell at more than one location during the season, you’ll need to have multiple people or groups named as additional insureds.
- Your insurance agent can add to your General Liability policy a blanket additional insured endorsement, which allows you to name multiple parties to your policy as you serve at different venues.
Property Insurance for Concession Stand Operators
Because most of your property is moveable, one of the most important types of Property coverage to purchase is Inland Marine Insurance. This coverage protects property that moves or is used to transport goods.
You may also need Off-Premises coverage, depending on the specifics of your business. An insureon agent can help you identify the specific kinds of Property Insurance most likely to protect the risks you face.
Seasonal Insurance for Concession Stand Operators
If you only operate your concession services during certain seasons of the year, you may be a good candidate for Seasonal Insurance, which allows you to save money by not covering you when you aren’t serving customers.
Seasonal Insurance, like most types of liability insurance, can be tailored to meet the needs of most concessionary businesses, so ask your agent whether this type of coverage is appropriate for you.