Vending Machine Insurance: Business and liability insurance
Yes, it is worth insuring your vending business.
Vending insurance is a small price to pay for peace of mind. Thankfully, we haven’t had or heard of anyone being injured by a vending machine. Mind you, kids are great at figuring out new ways to hurt themselves.
Not every insurance company offers vending machine insurance as it’s a specialised area. Generally, you can get insurance for public liability (Example, if someone hurts themselves or gets sick after using your machine) and general business (like to cover vending supplies and spare machines sitting in your home or place of business).
You must be aware that, in general, insurance companies WON’T insure you against a stolen vending machine that is ON LOCATION. Unfortunately, losing vending machines comes with the territory.
The cost of insurance will depend on the number of vending machines you have, the type of insurance you need and how much it is all worth. It would be best to speak to a few different insurance companies regarding specifics.
If you are buying new machines from the vending machine manufacturer, they may insure you against stolen vending machines as part of a packaged deal. Just be careful because they won’t just replace your stolen machine for free. They will charge you an ‘excess’ (i.e. what you need to pay in order to make the claim), the shipping costs, any admin fees etc.
What you may find is that the cost of making a claim is more expensive than buying a good used vending machine off ebay.