A Guide to Vending Machine Insurance

Wondering if you can put insurance on a vending machine? Vending machines are big, expensive appliances, and while they can be great moneymakers for your business, they’re also at risk of damage, particularly from vandalism. So how do you protect your vending machine?

Read on to learn the basics about vending machine insurance to keep your investment secure.

General liability insurance

Every business, regardless of what industry or what they sell, needs insurance. There are simply too many risks that could cause financial disaster for business owners. General liability insurance is the most common and comprehensive policy a business owner can have. It covers:

  • Bodily injury
  • Property damage
  • Medical payments
  • Legal defense and judgment
  • Personal injury and advertising injury

Businesses are not required by law to carry general liability insurance, but neglecting to do so is very risky. For example, if your business is sued, you could be eating the costs yourself. General liability insurance compensates for these damages, preventing total devastation for both your personal finances and those of your business.

What does this have to do with vending machines? There are several common scenarios where general liability insurance can cover damages for vending machine owners. It’s not uncommon for a customer to trip over a vending machine cord and suffer an injury. If a customer claims food poisoning after eating one of your vending machine products, general liability covers legal fees or settlements, when applicable. In short, this policy is always worth the investment.

Commercial property insurance

Commercial property insurance is applicable to vending machine owners who also own the space used to manufacture, house or stock the machines. How does commercial property insurance protect your vending machine? Should vandalism, bad weather or fire damage the machine, you’ll recover damages from the policy. It also covers the land and structure used to house vending products and workers.

Workers’ compensation insurance

Running a business with employees? You’ll need to invest in a workers’ compensation policy to make sure you’re covered in case of injury or accident. Since vending machines are big, bulky and difficult to maneuver, this policy is necessary to safeguard against any physical on-the-job harm.

Product liability insurance

Vending machines sell countless individual products to customers, which means you need to invest in product liability insurance. This policy covers companies from paying out damages due to defective products. Like the general liability policy, it covers medical and legal expenses caused by your vending machines or the inventory they contain.

Business interruption insurance

Fire, bad weather and criminal actions can cause unexpected interruptions to businesses. You can protect yourself with business interruption insurance. If you can no longer provide vending service or stock to the facilities you work with, this policy helps to sustain your livelihood in the meantime.

Running a vending machine business can be a profitable venture, and you can put insurance on a vending machine to keep your investment secure.

Ready to learn more about starting your own vending machine service? Contact ABC Vending Co., and get to know all the details about purchasing, insuring and maintaining lucrative vending machines.

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