Dispensary Insurance
The most successful dispensaries are prepared to withstand the risks and ever-changing regulatory environment of the cannabis industry. The rewards are high as well. While general liability is usually required, there are a number of other ways you can protect your operation and thrive including a well-crafted dispensary insurance policy.
Especially when starting out, many cannabis dispensary owners feel that insurance coverages beyond General Liability are “another expense.” Another way to look at it is effective risk mitigation. With heightened attention in law and media, dispensaries are at greater risk for product liability issues in the event that a customer ingests a product resulting in sickness, accident or crime.
Don’t forget about workers compensation insurance. Workers comp is compulsory coverage, meaning if you have employees, you are required by law to provide it. In most states, the fines and penalties for operating without it are significant and may even include jail time.
There are a number of insurance options available to ensure that your dispensary is successful during the ups and downs of business. While General Liability will cover “slips, trips and falls,” it will not cover liability issues. Fortunately, Product Liability is now an option. At The Cannabis Coverage Company, we specialize in the cannabis industry and will take the time to discover your needs and find solutions that fit your budget.
Contact one of our expert cannabis insurance agents today to learn more!
Available Coverages:
Stock & Inventory
Business Income and Extra Expense
Business Personal Property
Tenant Improvement Coverage
