Whether you own a medical or recreational cannabis dispensary, finding and obtaining cannabis dispensary business insurance to cover your property and products can be a challenge. Now it can be simple, fast and easy to secure coverage with HUB Cannabis Dispensary Insurance.
Cannabis dispensaries face significant risks including crime, property damage and general liability. Cannabis dispensaries have higher risk profiles than most retailers and face higher risk of product liability claims due to the nature of the product.
Insurance for dispensaries is a must-have to ensure your property and products are protected.
HUB Cannabis Dispensary Insurance is powered by our partner, Insureon – the number one independent marketplace for online delivery of small business insurance.
General liability insurance is coverage for bodily injuries and property damage claims that may be filed against your business. For example, general liability policies would apply if a customer fell and experienced an injury in your dispensary. Without appropriate general liability insurance coverage, you could be putting the future of your business at serious risk.
Product liability insurance is coverage for legal expenses associated with claims that a product you sold, made, or distributed caused an injury or property damage. This type of insurance for dispensaries is key in today’s litigious business climate.
Commercial property insurance is coverage for losses you may experience in the event that the physical assets of your business — your building and its contents, including owned or leased equipment, and outdoor fixtures, such as fences and signs — are damaged or destroyed.
Cannabis dispensaries must have coverage for general liability, product liability and commercial property insurance. These coverages ensure your product, property and employees are protected.
Medical and recreational cannabis dispensaries of all sizes should ensure they have adequate insurance coverage. The unique risks faced by cannabis businesses require a thoughtful risk mitigation and management strategy.
Cannabis dispensaries should also consider additional insurance coverages to account for their unique risks such as workers’ compensation, commercial auto coverage, cyber liability, business income insurance and commercial crime coverage. These coverages may not be required but they can offer peace of mind. For instance, commercial crime insurance can replenish inventory in the event of theft and a commercial auto policy will cover the repair and replacement of business vehicles.
HUB’s insurance and risk control specialists offer cannabis business insurance and risk consulting services to clients across North America, from wholesalers to cultivators to dispensaries, as well as ancillary cannabis businesses. With a deep knowledge of the challenges that the cannabis industry faces, our specialists are uniquely positioned to make sure you’re covered, so you can focus on maximizing growth and profit.
Contact a Cannabis Insurance Specialist for help with all your risk management and insurance needs.
