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OG Cannabis Insurance Blog

The insurance game is an ever-changing environment, especially in the Cannabis Dispensary Insurance sector. There are a variety of different factors (e.g. cannabis laws and policies) that can affect the way your insurance works and how you and your business are covered.

The OG Cannabis Insurance blog keeps you up to date on cannabis insurance, laws and policies, and dispensary insurance news so you can be proactive on protecting yourself when the unexpected happens. We update our cannabis insurance blog regularly so check back soon for more posts!

5 Reasons Why Cannabis Dispensaries Need Product Liability Insurance

Do you own a cannabis dispensary? If so, then you need product liability insurance to help protect your business and your money. Read on to learn more about what you can do to prevent financial loss from your cannabis dispensary business. 

What is Cannabis Product Liability Insurance? 

You might be wondering: what is cannabis product liability insurance? Getting cannabis liability insurance for your business is crucial. It protects you from a substantial financial loss related to any damage or loss of your marijuana products, production equipment, and growing equipment. 

Having cannabis insurance is crucial in keeping your business afloat in case anything unexpected occurs. Instead of biting your nails with worry, you will be covered when something threatens any financial loss to your business. 

Why Do I Need Product Liability Insurance?​

The cannabis industry is growing all over the United States, even with so many states outlawing it still. So, why do you need cannabis product liability insurance​? Well, here are five main reasons to get cannabis product liability insurance for your business:

1. Regular Product Liability Insurance Won’t Cover You

Are you planning on trying to get product liability insurance from regular product liability insurance companies? Well, you wouldn’t get very far since they won’t cover cannabis these type of products and you won’t end up being covered by them. OG Cannabis Insurance will, so you might want to consider us for your cannabis insurance. 

2. Being Liable for All Products Under Your Control

Customers could sue your business instead of the grower or product manufacturer. Any contamination that happens from bacteria, mold, or fungus could be blamed on you since the product is in your possession before it gets to the consumer. Your business could lose money if those customers sue you for anything that goes wrong. 

3. Your Inventory and Equipment Is Everything

Your inventory and equipment to make the cannabis and non-cannabis products is everything for your business. You can’t go to the grocery store and buy more cannabis or equipment like you can for other types of companies. It can cost a lot of money, so everything counts to keep your business a success. You can’t afford to lose your inventory, so this is where having cannabis insurance can help your business from going under.

4. Break-in or Fire Destroying Products or Equipment

If there was some damage to your products or equipment, then you are out of those products. You can’t get the money back, and it could put you in debt if it’s costly. This is why having cannabis dispensary insurance can prevent you from having to repurchase it all with your own money. 

5. Being More Creative and Maintaining More Control

Growing your marijuana strains can make you feel freer to be more creative and experimentative with your future cannabis products. Making your edibles and other products can also seem like a good idea and could create more business for you. However, you are even more liable for a lawsuit if something goes wrong with a patient or user’s reaction to the products you created and grew. It can be bad for your business if you don’t have product liability insurance backing you up financially. 

With our cannabis product liability insurance and manufacturer policies, we also got you covered from possible disaster to your marijuana inventory and manufacturing equipment.​ So, don’t wait until an issue comes up where you could end up losing out on money you worked hard on. Instead, contact OG Cannabis Insurance today to get an insurance policy for your cannabis or non-cannabis products to protect you and your company. You never know what issues will come up later, so it’s better to be protected now. 

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