Insurance for Cannabis Dispensaries
Straightforward coverage no matter what’s in store
Cannabis dispensaries are retail stores that sell and distribute cannabis and hemp-related products directly to the consumer. The laws, regulations, standards, and demands are constantly in flux in the cannabis industry, so these businesses often find themselves in an amorphous predicament when it comes to choosing the right insurance plan.
Dispensary Insurance Coverage
Cannabis dispensary insurance can have any number of coverages, and it depends on several different factors, such as the complexity of the store, the size of the operation, the amount of inventory, and more. All of these facets, of course, heavily impact the insurance premium. The most successful dispensaries consider the ever-evolving dynamic of the cannabis industry, especially when it comes to selecting insurance coverages. Dispensaries today are highly susceptible to break-ins, theft, and vandalism, so general liability insurance is always a good idea. Additionally, because of the lack of consistent regulation, product liability will likely be highly recommended.
How We Can Help
Weed Ross helps cannabis dispensaries cover all aspects of their business with comprehensive insurance policies. Some of our suggested coverages might include:
- General Liability: General liability coverage for cannabis dispensaries protects your store against third-party risks like customer injuries and accidents, medical expenses, copyright infringement, and more.
- Product Liability: Product liability insurance is essential for cannabis dispensaries, as this coverage helps pay legal costs that might arise from adverse reactions to the cannabis products you’re selling, like allergic reactions, panic attacks, or malfunctioning e-cigarettes.
- Commercial Property Insurance: Commercial property insurance for cannabis dispensaries helps cover your business in instances of damage or loss that are the result of fire, storms, theft, or vandalism. These scenarios are unfortunately quite common in the cannabis industry.
- Workers’ Compensation: Cannabis dispensaries should take full advantage of a thorough workers’ comp plan to cover the financial loss that results from work-related injuries, such as medical expenses, missed wages during recovery, and more.
