smartvendnw Posted July 13, 2016 Author Share Posted July 13, 2016 Hey if it keeps raking in $40-$50 day I'll risk it! BT$ But in all seriousness there's security cameras in the location. And my insurance policy covers damages. [emoji1303] BT$ Link to comment Share on other sites More sharing options...
Southeast Treats Posted July 13, 2016 Share Posted July 13, 2016 where did you find an insurance policy that covers vending machine damage? Link to comment Share on other sites More sharing options...
smartvendnw Posted July 13, 2016 Author Share Posted July 13, 2016 where did you find an insurance policy that covers vending machine damage?It's through Hartford. My good friend is an insurance broker. Fire, theft, flood, damages, even if someone gets sick off eating something out of my machines I'm covered. Honestly I'm not sure what the policy term is called. I wanna say it's up to $10,000 in damages. BT$ It's in addition to your general liability coverage. If I remember right it's like a $75 add on for the year and you get all the additional coverages. BT$ Link to comment Share on other sites More sharing options...
AZVendor Posted July 13, 2016 Share Posted July 13, 2016 Vending machine damage coverage isn't affordable because of the nature of the business. You should only carry liability insurance. Link to comment Share on other sites More sharing options...
PHX1 Posted July 13, 2016 Share Posted July 13, 2016 I to also have insurance through the Hartford and I have gotten reimbursed in the past For machines people have damaged. I only pay 600 A year for a 2 million dollar liability policy that covers all my equipment besides my van. Link to comment Share on other sites More sharing options...
smartvendnw Posted July 13, 2016 Author Share Posted July 13, 2016 Yeah I wanna say my GL insurance is $475 and added the additional coverage for $75. The wife does all this stuff. But seemed like a no brainer. BT$ Link to comment Share on other sites More sharing options...
Southeast Treats Posted July 13, 2016 Share Posted July 13, 2016 well that sounds pretty good, I tried to insure some new machines that were financed and only found high prices and lots of hoops to jump thru.... have you ever filed a claim for damages, and is there a deductible? Link to comment Share on other sites More sharing options...
PHX1 Posted July 14, 2016 Share Posted July 14, 2016 I would try the Hartford. They have specific policies just for vending operators. The only time I have filed a claim was On a bevmax that was declared a loss because the building caught on fire. It was super easy to set it up. I can get you the name Of the agency in PHX if you want it. Link to comment Share on other sites More sharing options...
KychrisKy Posted July 14, 2016 Share Posted July 14, 2016 Dang that insurance sounds pretty good Link to comment Share on other sites More sharing options...
smartvendnw Posted July 14, 2016 Author Share Posted July 14, 2016 I have yet to do a claim. Good to know the coverage is there and will work. BT$ Link to comment Share on other sites More sharing options...
tom0329cleveland Posted July 16, 2016 Share Posted July 16, 2016 I work at an Apartment Complex in Cleveland. Our Management Company has Apartments and Condo's. I think it's an untapped source of income. The problem is convincing the Management that it's more for providing a service to their residents than making them money. Anyone in the Cleveland Ohio area trying to break into the Apartment field? Let's talk Amrap getting RICH 50 cents at a time i'm in the Cleveland area and always looking for new locations. Send me a message and we can talk. Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
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