The fields of medical and recreational marijuana are still in their beginning stages. Businesses operating within the industry have specific, nuanced, needs. Whether you are operating a recreational, or medical dispensary, a grow facility, or transport service, you need the help of industry leaders to ensure you, and your building, are properly covered.
What Protections Does a Marijuana Business Insurance Policy Offer?
The exact protections that a cannabis dispensary insurance policy offers vary from one policy to the next, but there are several coverages that many policies make available. Some of these common coverages include:
- Commercial Property Coverage, which may cover a dispensary-owned building and most of the contents in it
- Landlord Coverage, for buildings in which a dispensary, or grow facility are tenants, Landlords need to look into coverage to suit their needs.
- Medicine Coverage, which may specifically cover the medical marijuana a dispensary has in stock
- General Liability Coverage, which may cover common accidents that take place on a dispensary’s premises
- Professional Liability Coverage, which may cover errant advice that’s given by a dispensary’s employee
- Product Liability Coverage, which may cover injuries or illnesses that a dispensary’s products cause
- Business Income Coverage, which may cover prolonged losses in revenue that are caused by certain natural disasters
- Cyber Liability Coverage, which may cover data breaches and online attacks
- Workers Compensation, like any other business, workers compensation is a requirement and specialized policies cover businesses within the cannabis industry.