June is busting out all over! The roads are filling with travelers seeking new adventure, and food trucks ready to serve them.
These top-line culinary feasts on wheels often require more extensive and expensive food preparation facilities and equipment, and have greater cash flows than those once familiar low-budget hot dog and ice cream vendor denizens of beaches and parks.
Yet until recently, no standard way existed of providing insurance coverage for those mobile-derived revenues and income. Technically, ISO's commercial property business income policies did not exclude auto-based property such as the food truck exposure, as long as the loss was due to a covered peril. There was, however, one crucial catch: These forms only applied while the property was at the insured location or within 100 feet. Sort of missed the whole point of a mobile business, wouldn't you say?
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