Farmers Insurance announced Friday that it has launched a new food truck insurance policy in New Mexico. This is the insurer’s first official foray into the developing food truck insurance marketplace, reported
Yahoo! Finance.
The new product conveniently combines commercial automobile coverage with a restaurant business owner’s policy.
Aside from New Mexico, Farmers also unveiled its food truck insurance package in Utah. Farmers plans to roll out the innovative insurance product to 24 other states by the end of this year.
"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," remarked Farmers Insurance head of business insurance for commercial auto Jake Rothfuss.
"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."
Farmers’ new food truck policy allows food truck owners to choose between obtaining coverage for their truck, or a truck attached to the stand-alone store.
Food truck operators typically have to secure separate policies for their business needs—commercial auto, business owner and restaurant policies—and often end up purchasing from different insurers. Farmers’ product seeks to streamline the experience, giving food truck restaurateurs a one-stop solution for all their coverage requirements.
Related Stories:
Here's how much low credit actually affects your clients' auto insurance rates
Farmers Insurance launches rideshare coverage in four states
