Local news stations across the country have been reporting about food truck robberies over the past year. We certainly hope this doesn’t become an escalating trend. Unfortunately, food trucks are robbed for a number of reasons…
- Almost all cash transactions.
- Depending on the city, some food trucks are forced to park on dark and secluded side streets due to regulations on their proximity to brick and mortar restaurants.
- Each food truck only has 2 to 3 people and easy access to unlocked side/back doors.
- Most food trucks are not outfitted with any type of security cameras or features.
- Tend to operate evenings or late nights.
Food Network’s The Great Food Truck Race series revealed some insight to the industry and how food trucks operate. It also showed how food trucks were collecting thousands of dollars in cash…this potentially got would-be robbers thinking about their next target.
There are some elements of a property insurance policy that can protect truck owners from a loss resulting from being robbed. So be aware you can purchase an insurance policy that includes this coverage. However, the cost to add the coverage “may” outweigh the chances of it actually happening to your truck. By deciding not to purchase the insurance, you have decided to self-insure the exposure/risk.
Whether or not you decide to purchase property insurance, it still makes sense to implement some risk management tactics to protect your income and employees.
Six Ways To Reduce A Food Trucks Exposure Of Being Robbed
Some areas of risk management/loss control to potentially consider implementing are:
- Purchase a wireless credit card processing system to reduce the amount of cash on hand.
- Have periodic cash pick-ups by a manager or cash service.
- Mount exterior lights on truck to brighten up the area around the truck at night.
- Lock all side/back doors at all times or just evening services.
- Mount dummy or real cameras with a notice that security cameras are in use.
- Use the old buddy system and try to park with other food trucks. There is safety in numbers.
We hope that all six of these suggestions will help you reduce the risk of a robbery. How to protect your food truck from being robbed? Share your thoughts on this topic in the comment section or on social media. Facebook | Twitter
Matt Carlson, CIC is an insurance broker that specializes in insurance and risk management solutions for food and catering trucks. He is a foodie and second generation commercial insurance broker.