Over the last few years, small businesses have been continually tested. From adjusting for the COVID-19 pandemic to riding the inflation rollercoaster, Canadian business owners have come out on the other side more resilient than ever before.
Entrepreneurs have risen to the challenge by innovating new high-quality and creative products and services. Craft fairs, farmers’ markets, flea markets and trade shows have become highly popularized as this generation pivots to support small businesses and more sustainable shopping.
Mobile vendors experience specialized risks associated with marketing their products off-site to different crowds, locations and at special events. However, Fuse Insurance has the expertise and solutions to cover all types of vendor businesses.
If you are a mobile vendor, you know that preparing marketing collateral and displays for your business takes effort. With that considered, you have to organize travel arrangements, product stock, location and accessible facilities (water, electricity and bathrooms).
Who is eligible for mobile vendor insurance?
- Chip Wagons
- Flower Vendors
- Food Carts
- Jewelry Vendors
- Spice / Herb Vendors
- Fruit & Vegetable Vendors
- Hot Dog Vendors
- Ice Cream Vendors
- Refreshment Vendors (No Liquor)
- Handicraft Vendors
- Clothing Accessories
- General Merchandise
What types of insurance policies should mobile vendors consider?
There are many different policies available to mobile vendors that will help protect your business’s individual needs. A combination of some of the policies below can form your Vendor Insurance package and provide comprehensive coverage for your business.
Commercial General Liability (CGL)
This is essential coverage that protects you from everyday risks in your business such as a customer slipping and falling over equipment resulting in an injury. CGL covers claims of third-party property damage, bodily harm or advertising injury that occur on or around your business premises.
Tenants Legal Liability
If you lease out a space, your landlord may require you to hold Tenants Legal Liability coverage. Even if it isn’t required, it is a good policy to consider. This form of CGL insurance, tenants legal liability or commercial legal liability, covers the legal fees and claims payments for third party bodily injury or property damage.
Example: A customer slips and falls on spilled ice cream at your mobile ice cream business. Your company is sued by a customer after they injured their ankle.
Non-Owned Auto
If you regularly rent or lease vehicles, or ask staff to use your personal vehicles for business purposes, this coverage is for you.
Example: Your company rents a box van in order to transport your business materials to a festival you are a vendor at. On the way there, your staff member gets into an accident and damages the rented van.
Property Contents
If you store valuable items at your business’s premises or utilize mobile equipment, property contents insurance will help make sure your company’s possessions, equipment and stock are adequately protected. If you experience a fire, flood or other insured event at your business facility, this insurance can cover the cost of repairing or replacing your damaged business items.
Example: Your mobile food business uses a vending bike trailer to store and transport the food you sell. While your trailer is not in use, your business premises experiences a fire that damages your trailer, causing you to cancel events until it can be repaired.
This insurance can provide coverage for the income lost when your normal business operations are interrupted or stopped altogether. This interruption or damage must be caused by or be a direct result of a covered cause of loss, which are the same causes of loss found in your Commercial Property policy. There must be visible physical damage to your business property and contents for it to apply.
Mandatory Requirements
Establishing a mobile vendor business requires insurance. Our goal is to make this process as straightforward as possible for you, so that you can feel confident that your business is protected.
- Ensure all information in your application is up-to-date and completely filled out
- Ensure that your products comply with industry and government regulations (including labelling)
- Ensure all operations, employees and business locations are located in Canada
- Ensure deep fat fryer risk management procedures are documented and in place (if applicable)
Our brokers at Fuse Insurance will work with your business to find the right insurance coverage that will help you recover from unforeseen events while ensuring you experience minimal financial impairment to your operations. Our online quote applications are made specifically for mobile vendors in order to ensure your insurance policies are in your hands as soon as possible. To start your quote now, fill out our online application or call 1-866-387-FUSE (3873).