Vending Machine Insurance

A typical vending machine liability insurance policy may include the following coverages:

• Commercial General Liability (CGL) Insurance: CGL, or general liability insurance, covers you for third-party bodily injuries and property damage. Often referred to as slip and fall insurance, it shields you from costs associated with accidents or claims of negligence resulting from your business’s regular activities. It includes coverage to pay for damage or loss to others’ property where your machines are located and financial support if facing allegations of defamation or false advertising.

• Product Liability Insurance: Usually included in a general liability policy, product liability insurance protects you against claims alleging third-party bodily injuries or property damage from any product you manufacture, distribute, or sell, including food and beverages.

• Equipment Breakdown Insurance: Equipment breakdown insurance pays to repair or replace your vending machines and other equipment if damaged by internal mechanical failure or electrical malfunction. For example, it covers things like power surges, electrical shorts, or the failure of a mechanical component in your equipment. This coverage extends to your office equipment and electronics, like photocopiers and computers.

• Commercial Property Insurance: Also known as business property insurance, commercial property insurance protects your vending machine business’s office or warehouse, business contents, and inventory or merchandise from damages or losses caused by fire, water, a natural disaster, theft, and vandalism. Commercial property insurance may include business interruption coverage to pay for your overhead costs following an insured loss.

• Commercial Auto Insurance: Vending machine operators need business vehicles and trailers to deliver, service, and restock their machines at customer locations. Commercial auto insurance covers your vehicles (vans, pickups, cars, SUVs, trailers) if damaged in a car accident. If your employees use their vehicles for work, you can add hired and non-owned auto protection to your policy to cover their cars.

A basic or standard commercial auto insurance policy offers the same mandatory coverages as a private-passenger car insurance, only with higher coverage limits. You can enhance your commercial auto policy by adding optional coverages such as collision and comprehensive insurance. Be aware that private-passenger car insurance does not cover any vehicle used for business purposes.

• Cyber Liability Insurance: Cyber liability insurance protects your vending machine business from the financial impacts of cybercrime. It is essential coverage for companies of any size. It covers you for damages resulting from a cyber-attack or data breach that compromises your business’s and customers’ confidential information, including restoring your software systems and paying for credit monitoring, notification fees, legal advice, and sustained losses because of a systems outage due to cyber-attacks.

• Commercial Crime Insurance: If you have full- or part-time employees, commercial crime insurance covers financial losses due to internal theft, including forgery, embezzlement, fraud, and stolen money or inventory. That includes coverage for the theft of cash if funds go missing while in transit with a delivery person or armoured car provider.

There may be other coverages your business needs, such as contractual liability insurance to protect you from losses related to contracts you sign with your customers. Speak to a Zensurance broker if you have questions about the coverages your business’s vending machine insurance policy should include.