Coverage Confusion in the Cannabis Industry

Cannabis Industry

Coverage Confusion in the Cannabis Industry

With the cannabis industry being newly legal in most places and still illegal in others, the approach to insurance coverage can be confusing and overwhelming. Since the industry isn’t legal nationwide, each state can set different regulations for those in the business within their state lines. Regardless of what any state requires, any business owner in the cannabis industry should have a broad range of coverage for the risks they face in the business.

Coverage for Every Stage

There is a number of coverage types when it comes to cannabis trade. CannGen insurance professionals assert the importance of understanding individual business needs and finding an insurance provider that will work with a company to customize a policy that will sufficiently cover its risks. Some policy choices include:

  • cultivation insurance
  • cannabis harvesters insurance
  • manufacturer insurance
  • laboratory insurance
  • landlord and property manager insurance
  • dispensary and smoke shop insurance
  • processor insurance

Other coverage areas like building insurance, delivery, and transport, and product liability will all be important in various stages of producing cannabis products and getting them into the hands of customers and clients.

With the help of an experienced and equipped insurance expert’s help, any cannabis business, no matter how big or small, will be able to prepare for any risks it may face and ensure long term and high-quality products and services to their clientele.