You drive a 5 ton truck that contains propane tanks, gasoline, oils and other flammables. You are essentially a 65 mile per hour street food slinging missile. The amount of damage an accident can cause can easily be over the standard 1 million dollars you carry. Do not carry less than this! The savings is nominal to drop to $500,000 or less.

Your truck cost say $40,000 to replace, you need collision and comprehensive coverage to protect it if you are at fault in an accident, if it catches fire, is stolen, vandalized, or many other losses similar to your personal auto policy. Don't get me started on your wrap... see my previous post on that.

"The Tainted Taco." This will cover bodily injury and property damage that are not auto related. The biggest exposures would be food related claims such as food sickness, food allergies and slip and fall related claims. The General Liability also picks up personal and advertising injury. Most venues will require at least 1 million per occurrence and 2 million aggregate. This means 1 million per loss and no more that 2 million total coverage for the policy term. This is necessary coverage that is inexpensive to add.

You invested what, $15,000 up to $50,000 into your truck and have maybe $10,000 in equipment floating around back there? You need property coverage to protect your stash. An auto policy covers the truck, and typically nothing more. Adding in-depth property coverage to protect your modifications, equipment, mechanical breakdown and loss of business income is affordable and adds piece of mind. This is a complicated subject that requires more attention. If you want to be an honor student read some news posts, this is just 101.

Did you know that it is the law to provide workers' compensation to all employees in the state of California (many other states as well)? I know, your cousin likes cooking and isn't really an employee... Wrong, do not get caught without workers' compensation! It's not as expensive as you may think and saves thousands in fines, out of pocket losses and those fun attorney fees.

Many venues will require more than 1 million dollars in general liability. An umbrella policy is just what it sounds like. It bumps your general liability, auto liability and workers' compensation to 2 million, 3 million or more depending on the limit chosen. If you are in a major metro area chances are you will be asked for higher than 1 million limits. It's worth the $400 or so to add, DO IT!