We're Your Choice For Cannabis Insurance 

Now writing all products for cannabis insurance in most states! CA, NV, OR, WA, and many other states where recreational and medical marijuana have been approved for legal use.

Whether you are looking for cannabis dispensary, marijuana crop, hemp transport, bud delivery, or any other coverage related to your cannabis business, we are your one stop shop. We have over 35 years of experience in the insurance industry!

  • Crop Liability
  • Commercial Auto
  • Product Liability
  • Workers Compensation

Cannabis Insurance Products

From cannabis crop insurance to products for all aspects of your storefront or other business needs, we've got you covered!

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    Cannabis Crop Coverage From seed to harvest, we have insurance to cover your cannabis crop.

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    Transportation of product We know cannabis transportation insurance. Over 35 yrs. experience.

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    Product Liability Cannabis products can pose serious liability exposure. Get covered correctly.

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    Dispensary / Business Owners Liabilty Every time someone enters your dispensary, there is potential risk.

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    Cannabis Delivery Services Coverage Do you deliver? Let us help you navigate cannabis delivery insurance.

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    Employees Worker's Compensation If your employee is hurt on the job, we have a policy to cover them.

Is Cannabis Insurance Really Necessary?

 

After the results of the 2016 November election in the United States, cannabis has been legalized in multiple states and the trend is only expected to continue. Reducing the risk of a loss within this new business sector is urgent. Cannabis insurance policies have finally become more readily available. Here's why and how.

While the industry is generally considered to be thriving, when it comes to navigating all the state laws and regulations it can be a daunting task for new business owners. Most states either required or are soon going to require businesses to obtain cannabis insurance coverage for their dipsensaries and and other aspects of the marijuana industry.  

The real trick is finding an insurance company that will cover a product that is still prohibited under federal law, which means that marijuana-centric businesses looking to protect their cannabis inventory or crops face slim pickings in the marketplace. Policies that cover this space, being few and far between, can mean low-rated carrier choices with limited policy language leaving gaps in the policy-holders coverage.  However, even though there has been reluctance for insurers to enter this potentially dynamic space, case law is already beginning to pave the way in favor of those in the cannabis industry. But what can pot related operations do to establish affordable insurance coverage? And how will it benefit their business? This is where our services come in. 

Insurance Requirements Expected of Cannabis Business Entrepreneurs 

Finding affordable coverage relies heavily on the security and safety measures that the business owner takes to minimize risk within their operations and business model. Grow operations and dispensaries alike face many obstacles here. "Ganjapreneurs" can face risks like theft (external and internal), grow fires and employee injuries, making security extremely concerning for insurance underwriters reviewing a new pot business risk. Also, choosing a viable location for a cannabis business plays a significant role in whether an insurer will offer coverage. Therefore, it's never too early in the business process to start building a relationship with an insurance professional as this will help with navigating the ins and outs of cannabis insurance as well as developing and building the business from a vantage point of safety.

Liability Concerns Within the Cannabis Industry

Product liability coverage is essential for cannabis business owners in order to protect their operations and uphold the integrity of their business. There are rising numbers of claims of illness and injury from cannabis use. Demands and settlements from these types of claim can sometimes be substantial enough to put an entire operation out of business, especially if the business is in it's infancy and doesn't have enough liquidity to cover the setback. Product liability policies should be sought out as these types of claims are not typically covered under general liability policies. 

Product recall is another emerging trend in the cannabis industry. Cannabis products are being recalled quite frequently, largely due to the use of dangerous or banned pesticides at the crop production level. Product recall has the potential to be very expensive and isn't covered by basic product liability insurance. There are a couple of steps you should take in order to protect a cannabis operation from the potential impact of a recall;

1. Product Quality Regulation: Hire an independent third party testing company to regulate your product quality 

2. Place product recall insurance.

Product recall coverage is written specifically for individual business needs and covers everything from retrieving the recalled cannabis product, shipping costs, costs associated with product destruction and even provide public relations help to rebuild the insured's reputation.

Any cannabis dispensary takes on the responsibility of a highly-regulated pharmacy, however we are all human and there is always the potential for human error.  An Errors & Omissions policy is just what the Dr. ordered.  To recap, here are some of the essential marijuana business insurance policies that all cannabis based businesses should consider for peace of mind; 

  • Product Liability
  • Product Recall
  • Professional Liability
  • Errors & Omissions 

Our Cannabis Insurance Partners

To find our more about our partners, please visit any of the websites listed below

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    American Business Insurance Services, Inc.

    American Business Insurance Services is the managing agency for all of our cannabis insurance products and has specialized in Taxi Insurance for over 35 years.

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    Cannabis Research A-Z

    One of the most thorough and comprehensive canabis research websites on the web. Cannabis Research A-Z for

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    Agency-Broker.com

    Do you want to sell an agency? Agency-Broker.com
    MKL Agency Broker offers Insurance Professionals and Agency Owners services to help them confidentially sell their agency or purchase a Book or another insurance agency.

Get Insurance for your Cannabis-Based Business! No Obligation, Free Quote!

Regardless of the exact "type" of cannabis insurance you are looking for, we've got you covered! Click "Get Quote"to the right or call us NOW at (800)-980-1950 ext. 4 for a fast, no obligation quote!

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