It's easy to get free quotes for cannabis company insurance by filling out our online application with basic facts about your business.
Once you find the right policy, you can begin coverage in less than 24 hours and get proof of insurance online the same day.
Our licensed insurance agents work with top-rated U.S. carriers to find the right insurance program that matches your risks, exposures, and budget. If you have questions, you can contact our dedicated cannabis insurance specialist to get started.
State laws may require cannabis businesses to carry this coverage. It provides financial protection against common accidents, such as a slip-and-fall injury in a cannabis dispensary.
This policy covers legal defense costs if a product harms a customer or damages their property. It's recommended for growers, sellers, and distributors of cannabis-related products.
This policy covers the cost of replacing or repairing your business property if it is stolen, damaged, or destroyed. However, it doesn't cover damage caused by natural disasters.
This policy covers the legal costs and property damage in accidents involving your cannabis business's vehicle. It also covers vehicle theft and vandalism.
Most states require workers' comp for any business that has employees. It also protects sole proprietors from work injury costs that personal health insurance might deny.
A bond guarantees your cannabis business will fulfill the terms of its contracts and pay its suppliers. Many states require a surety bond as part of licensing requirements.
As legalization of cannabis spreads, from recreational use to medical marijuana, each state is establishing its own laws for cannabis insurance.
State laws typically require general liability insurance for all businesses in the cannabis industry, from cultivators to dispensaries. You'll need to research the laws in your state to find out how much general liability coverage you need.
The specifics of your cannabis operations will determine other types of insurance coverage you need. For example, your landlord may require you to carry several types of liability insurance to sign a lease, including commercial property coverage.
If you run a dispensary, you can complete Insureon’s easy online application to get quotes from top U.S. carriers that meet your insurance needs. For other cannabis businesses, you can call our dedicated agent to find insurance coverage options for your budding business.
There are several additional insurance solutions cannabis businesses should consider for their unique risk management plan, such as:
Business personal property (BPP) insurance, often included in a commercial property policy, will pay to repair or replace lost, damaged, or stolen business property. It covers items like computers, displays, and cases. When business property and stock is in transit or storage, bailee coverage could fill the care, custody, and control exclusion gap in your policy.
Equipment breakdown coverage protects your company's computers, electrical systems, production machinery and other equipment from sudden and accidental malfunctions that commercial property insurance typically excludes.
Business income coverage, sometimes called business interruption insurance, offsets lost income if your business is forced to temporarily close due to a covered peril, such as property damage. This policy can help cover normal operating expenses until you can resume business operations.
While both product recall insurance and product liability insurance help business owners who are dealing with defective products, each covers a different liability. This coverage isn't included with general liability insurance, but it can be added as a rider.
Management liability insurance is a combination of policies that covers the many business risks faced by senior-level managers, including lawsuits and claims of discrimination, mismanagement, and fraud. These policies include directors and officers (D&O) insurance, employment practices liability insurance (EPLI), and commercial crime insurance.
Cannabis cargo insurance, a type of inland marine insurance, provides coverage for loss or damage to your cannabis products while in transit or stored during transportation. This policy can cover the replacement of cargo, or income for lost non-replaceable cargo, like harvested crops.
Cannabis crop insurance, most often used by cannabis cultivators to protect crops grown indoors or in approved greenhouse facilities, offers coverage for seeds, seedlings, flowering plants, harvested plants, and finished stock.
This policy covers losses due to theft, fire, vandalism, and equipment breakdown related to environment control/monitoring and pumps/compressors.
Finished stock insurance covers any actual cannabis inventory that’s in its final stage ready to be sold. This would protect your business from any lost income should your cannabis inventory be damaged and unable to be sold.
Additionally, a stock throughput policy (STP) can provide coverage for every stage of a cannabis product, not just as finished stock. This includes when seeds are planted, throughout the growth phase, when stored, and while in transit.
It's best to speak with your dedicated insurance agent to know what policies can meet your insurance needs and budget.
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