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Commercial property insurance for cannabis businesses

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Commercial property insurance

Commercial property insurance pays to repair or replace stolen, lost, or damaged business property. It covers your business’s physical location and other assets like equipment.

How does commercial property protect against common property damage risks?

Commercial property insurance protects against some of the most common and expensive risks for owners of cannabis businesses. It can help cover losses from:

  • Burglary and theft
  • Storm damage
  • Fires
  • Vandalism
  • Temporary closure

This policy is strongly recommended for any cannabis business due to the costly nature of your products. It may also be required by your landlord.

Customize commercial property insurance to fit your business

Cannabis business owners can customize a commercial property policy by adding other types of coverage.

Inland marine insurance protects mobile property. It would cover items stolen in transit, or damaged at a storage unit or other off-site location.

Business interruption insurance covers the cost of a temporary closure. For example, if a dispensary needed to close for renovation after a fire, this coverage would reimburse the business for lost revenue, daily operating expenses, and a temporary relocation.

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What coverage does commercial property insurance provide for cannabis businesses?

A commercial property policy provides financial protection against a wide range of property losses and damages.

Burglary and theft

Burglary and theft are some of the most common claims faced by small business owners. Cannabis business owners in particular take on a lot of risk due to their valuable inventory. Property insurance covers the cost of stolen items, along with any damage caused by a burglar.

Storm damage

Commercial property insurance includes financial protection against storms. It could cover the cost of replacing a roof damaged by hail, or a window broken by a tree limb during a hurricane.

Be aware that most policies don't include coverage for flooding or earthquakes. However, you can still buy this protection separately.


Fires are one of the most costly claims. For cannabis business owners, loss of marijuana, CBD products, and other inventory could be financially devastating. Commercial property insurance helps pay for replacement of items damaged or destroyed by a fire, along with damage to the building.


Commercial property insurance can help cover damage caused by vandalism, such as graffiti or a broken window.

Temporary closure

The damage caused by a fire can be devastating, and so can the financial losses while your business is closed for renovation. Make sure your policy includes business interruption insurance, also called business income insurance, to cover the cost of temporary closure due to a fire, a burst pipe, or other property claim.

Other important policies for cannabis businesses

Commercial property insurance covers some of the cannabis industry's most common and costly risks, but it doesn't provide complete protection. Owners of small cannabis businesses should also consider:

General liability insurance protects against the most common business risks, such as customer slip-and-fall injuries. Most states require this coverage for cannabis businesses.

Product liability insurance helps pay for lawsuits related to your products, such as a claim that a faulty battery in an e-cigarette started a fire.

Commercial auto insurance covers the legal costs and property damage from accidents involving your cannabis business's vehicle. It also covers vehicle theft and vandalism.

Workers' compensation insurance is required in most states for cannabis businesses with employees. Workers' comp also protects sole proprietors from work injury costs that personal health insurance might deny.

Surety bonds guarantee 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.

Get free quotes and buy online with Insureon

Are you ready to safeguard your cannabis business with commercial property insurance? If you run a dispensary, you can complete Insureon’s easy online application to get quotes from top U.S. carriers. For other cannabis businesses, you can call our dedicated agent at (872) 260-5150 to get insurance quotes for your business.

Once you find a policy that fits your needs, you can begin coverage in less than 24 hours.

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Updated: February 17, 2023
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