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How Does Program Insurance Work?
The FLIP policy is written through a Risk Purchasing Group (RPG), which provides each insured with their own dedicated limits. In addition, your policy will not have a deductible on the liability coverage. The FLIP policy provides general commercial and product liability coverage for your food vending business, and it includes inland marine coverage for your business's personal property. Building coverage is not included but can be purchased by contacting one of our customer service representatives at (888) 568-0548.
Purchasing your policy through FLIP will give you instant coverage and immediate access to your insurance documents. Your policy will be effective as soon as your payment processes.
The Following Limits Apply to Each FLIP Policy:
|General Liability Aggregate Limit||$2,000,000|
|Products-Completed Operations Aggregate Limit||$2,000,000|
|Personal and Advertising Injury Limit||$1,000,000|
|General Each Occurrence Limit||$1,000,000|
|Damage to Premises Rented to You (Any One Premises)||$300,000|
|Liability Deductible||NO DEDUCTIBLE|
|Business Personal Property / Inland Marine Limit (Any One Article / Aggregate)||$5,000/$10,000|
|Business Personal Property / Inland Marine Limit (Per Occurrence) - Deductible||$250|
|Identity Recovery Coverage Aggregate Limit||$15,000|
|Identity Recovery Coverage Deductible||$250|
These general liability limits only apply to food trailers if a Trailer Endorsement is added to the policy.
**Please note that this is only a summary of your insurance coverage. All policies have specific terms, conditions, exclusions, and limitations. Please refer to the policy for a complete description of coverages. For a sample policy, please contact us at (888) 568-0548 or by email at email@example.com.
Business Personal Property
While liability insurance is crucial, we recognize that additional coverages may be necessary to protect your business. This is why your FLIP policy includes business personal property coverage, which is also known as inland marine coverage. Business personal property covers losses to property such as your supplies, equipment, inventory, and more. This liability and property package concept makes FLIP one of the most comprehensive policies on the market.
If you have a food trailer, a trailer endorsement will provide coverage if a third-party is injured in, on, or around your trailer while it is detached from your towing vehicle and parked on a premises. Many general liability policies exclude incidents that occur in or around a food trailer, so having the option to add a trailer endorsement is another unique and valuable feature of the FLIP policy.