Insurance - newbie question

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Chrissy

Fri Aug 24, 2018 9:55 am

Hello all,

I'm new here and working on a business plan for a shave ice/popcorn/cotton candy truck. It's going well but I'm having trouble coming up with insurance numbers. I'm located in FL and I understand I'll need FLIP. They have a base $299/year policy which should be ok for the first year.

Can anyone give me an estimate on what a reasonable commercial auto policy might cost? Current plan is for new 18ft diesel truck. I'm budgeting $200 per month for auto insurance but I have no idea if that's a reasonable estimate. Any preferences on the best auto insurer for food trucks? Is there any company that has rates based on mileage/sales like those little devices you put in your car for the driving discounts?

Thanks in advance,

Chrissy
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IceMan326
Posts: 397
Joined: Fri Feb 20, 2009 4:43 pm

Fri Aug 24, 2018 10:30 am

I would most likely try to get quotes from all the known auto insurance companies and see which ones offer the best deal for your need. Farmers, Statefarm, Progressive, Geico, etc.

It's a bit difficult for me to provide you with estimates without knowing much of the detail for your vehicle. Everyone would be different. Let's start with basics, the year? make? model? color? safety features of the vehicle? 4 wheel abs, back up cameras? sensors? all those make a difference as well as you or your drivers driving records. That's one of the most important too. Your rate can be extremely low to sky rocketing high.

I've had a friend who is paying $2000.00 every 6 months for his car because he had total 2 vehicles in 3 years.
I love Shave Ice, period. :D
Chrissy

Sun Aug 26, 2018 2:36 am

Thanks so much for the info, that helps a lot. I would be the primary driver and my driving records is very good, no accidents or tickets for a decade. I'd rather estimate on the high side for now, so what I can find online suggests a commercial van would be roughly $2k per year or less.

It's kind of a catch-22, you need the truck to estimate all the other numbers but you need the other numbers to estimate how much you can spend on a truck, I think I need another espresso :)
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