Every business, no matter what industry they operate in, faces certain risks. For businesses in recreational and medical cannabis production and sales, those risks are different but no less dangerous. You need to invest in a good insurance policy to make sure your company is fully protected.
Standard Business Insurance Isn’t Enough
Unfortunately, traditional business insurance doesn’t provide the types of coverage dispensaries and grow-ops need to stay safe. You need to look for cannabis-specific insurance providers that understand the risks associated with the production and sale of marijuana products. The key to finding the right insurance coverage lies in understanding how cannabis insurance companies can protect your business.
They Provide Industry-Specific Coverage
Cannabis insurance companies function similarly to traditional commercial insurance providers. They offer workers’ compensation coverage, product and inventory coverage, and even commercial vehicle insurance to help cover your fleet. Some providers even have policies that offer protection for your crop while it’s growing as well as general business liability.
They understand the unique risks cannabis businesses face and the legal challenges surrounding your operation. Even better, these insurance providers won’t share the concerns that standard business insurance companies have about providing coverage to a closely monitored and as-yet-still-illicit industry.
If you own a dispensary, grow-op, or cannabis wholesale company, get coverage from dedicated cannabis insurance companies. They’ll make sure you’re protected from every possible risk as soon as you open your doors.