We offer the following marijuana industry insurance products:
- General Liability
- Product Liability
- Auto (Primary/Excess)
- Umbrella (Primary/Excess)
- Workers’ Compensation
- All Risk Property
- Inland Marine
- Miscellaneous & Manuscript
- Director & Officer
- Kidnap & Ransom
- Professional Liability
“Do I really need insurance to protect my medical marijuana dispensary? Is it necessary? What are the advantages of having insurance? Is it worth it to pay for insurance?” Most clients ask these questions when coming in for a consultation. We provide them with a simple, straightforward answer.
If something were to happen to your dispensary business or your medicine such as a fire or theft, would you be ready to pick back up and get your business started again without monetary stress? We always get the same answer: “No.”
That’s why legal marijuana dispensary insurance is important: you need to protect yourself and your business from losing money in the event of misfortune.
Marijuana Dispensary Insurance
CaSurance can provide you with the protection you need, protecting you from risk if your business undergoes some type of misfortune.
It’s a common misconception that legal marijuana dispensary insurance is very expensive and unattainable, but it is actually very reasonably priced. We can provide you with many types of insurance coverage, including:
- General liability
- Product liability
- Business income/extra expense
These aspects make our legal marijuana dispensary insurance coverage comprehensive, which will help your business stay on its feet should some type of calamity or unfortunate event arise.
We can offer you general liability insurance protection up to $5 million. This will help your company protect itself inclusively and includes damages and injuries, which is especially important when it comes to finding a good medical marijuana dispensary insurance plan. General liability is almost certainly required by your landlord, and as the state laws continue to adjust and new rules and regulations are written, it is becoming a requirement for state licenses.
Protecting your business’s property is very important. We can provide you with property protection to restore your business’ inventory, furniture, fixtures and equipment and cover tenant improvements, just to name a few. Purchasing a medical marijuana dispensary insurance plan will help you get back on your feet much quicker and easier in the event of property damage.
CaSurance can provide your cannabis dispensary with inventory coverage against risks such as fire and theft. We also offer insurance coverage during the risky time when your product is in transit from the cultivation facility to your dispensary.
Business Income/Extra Expense Insurance
Our marijuana dispensary insurance also covers your business’ income and additional expenditures. When we talk about “business income,” we mean the net income that you would have realized if your business hadn’t suffered fire, theft or another covered claim. This can also include the extra expenses faced by your business in the event that you must move it to another location.
How many times have you heard of businesses getting sued due to unexpected reactions to their products? How many patients have tried to sue different companies by making claims that certain medicines have affected them negatively? Unfortunately, this is all too common. Sometimes, even false claims end up winning.
That’s why we can provide you with product liability that will protect you from lawsuits. Edible marijuana, vaporizing tools, smoking devices and dispensaries are all covered by product liability insurance.
CaSurance will protect your business in the event that you are sued by medical marijuana patients who have undergone inadvertent side effects. Product liability insurance will provide coverage for both the cost to defend the lawsuit and the potential indemnity payment.
Liability & Property Coverage for Marijuana Businesses
Medical marijuana has been found to relieve the pain and suffering of many individuals with chronic and serious illnesses. As more states vote to end the marijuana prohibition, marijuana dispensaries are growing in number. These facilities face numerous general, professional and property liabilities. Casrance understands the evolving Marijuana Dispensary Insurance market and offers monoline or package options for comprehensive coverage through A.M. Best “A-“ or better-rated carriers. Contact us today to learn about marijuana business insurance coverage options!
$1M/$3M limits available
Deductibles start at $2,500
Products/Completed Operations coverage is excluded
Coverage for home cultivation is excluded
Minimum Premium: $2,750
States where medical marijuana dispensing is legal
AK, AZ, CA, CO, CT, DE, DC, FL, HI, IL, ME, MD, MA, MI, MN, MT, ND, NV, NH, NJ, NM, NY, OH, OR, PA, RI, VT and WA
PRODUCT MANUFACTURING INSURANCE
PROFESSIONAL LIABILITY INSURANCE
WORKERS COMPENSATION INSURANCE