Insurance for Ancillary Cannabis Businesses
Covering those that support the industry
Ancillary cannabis business is an umbrella term for any business that supports the cannabis industry. Because the market is increasingly complex and expanding at such a rapid rate, the industry is seeing new business ventures arise out of thin air. But no matter how your operation is involved in the cannabis space, it’s important that you customize your insurance policy for the most comprehensive protection.
Ancillary Cannabis Business Insurance Coverage
One of the most common ancillary cannabis businesses involves delivery and transport. Cannabis is starting to be delivered from gas stations and dispensaries, and these business models need adequate coverage, like commercial auto insurance and property in transit/cargo insurance. It’s a good idea to keep the nuances in mind when it comes to insuring an ancillary cannabis business. For instance, a regular commercial auto policy likely won’t cover you if you don’t disclose that you are working in the cannabis space in particular. Or perhaps your cannabis operation exists on a Native American reservation. All of these details need to be ironed out with your underwriter and insurance carrier.
How We Can Help
Weed Ross offers a variety of coverages that can be tailored for ancillary cannabis businesses of all sorts. Depending on your operation, some of our suggested coverages might include:
- Commercial Auto Insurance: Cannabis transportation services can certainly benefit from a commercial auto policy, as this plan covers events of an at-fault accident, injuries related to car accidents, collision coverage, and more.
- Property in Transit Insurance: Cannabis logistics businesses should definitely consider property in transit coverage, sometimes known as cargo insurance. This will cover your cannabis products during transportation, which can help with the replacement of cargo in the event of a loss or accident.
- General Liability: General liability coverage is essential for any cannabis business, as it offers protection against things like customer-related accidents, medical expenses, and more.
- Product Liability: Product liability insurance is essential for any business, especially in the cannabis space, as this coverage helps pay legal costs that might arise from negative experiences regarding your products.