Legal marijuana dispensaries are a difficult business to operate. With strict regulations and harsh penalties for non-compliance, these legal shops have to be very careful in the way they handle their operation. 

This article will cover the best tips on how you can ensure your marijuana dispensary is covered by insurance that meets all of these requirements. As time goes by recreational cannabis becomes legalized in more states across America (including California!), OG Cannabis Insurance has made sure they’re prepared with comprehensive protection for any owner who needs it from coast to coast!

What is a Segmented Marijuana Dispensary?

Medical marijuana is covered by Medical Marijuana Dispensary Insurance. Segmentation refers to practice selection and separation of target market into distinct groups based on certain attributes or characteristics. 

A segmented marijuana dispensary refers to a marijuana dispensary that has been separated to meet the needs of customers with certain shared attributes or. Segmentation of marijuana dispensaries helps tailor marijuana and products to meet the specific needs of customers.

Market segmentation will see dispensaries target different market needs in the marijuana industry. A good selection of segments will consider certain factors. Starting with hard data creates a segment customer list. Find the hard data. Find a deeper perspective to help you sketch or map your core segment. What are the ages, background, needs, etc., of the target segment?

Segmentation of Cannabis Retailers takes three key considerations of customers. The first is older citizens. Most prescriptions come from older citizens. Older citizens in cannabis markets use cannabis more than other prescriptions. Older citizens use cannabis over the cannabis flower for symptom relief and are daytime shoppers.

Health and fitness enthusiasts are the next groups. They do not smoke the flower often but order their products. Most of the customers are pre-workout, post-workout, and rest or recovery customers.

Cannabis newcomers are the last consideration for customers. New customers include consumers from all ages, backgrounds, and interests and are curious about cannabis and want to learn something new.

Depending on the reason for consumption and what they want to learn, these customers can buy products from a store during the day and alternative hours.

Why do Medical Marijuana Dispensaries need insurance?

Over half of the US states have approved medical marijuana, but it’s unclear how federal law treats this across all 50 states. Medical marijuana dispensary coverage should be considered from liability claims, theft or fire claims and so on – just to ensure that you’re shielded against unnecessary losses.

OG Cannabis Insurance offers different insurance services for all marijuana dispensary needs. These constitute cannabis cultivation insurance, cannabis property insurance, cannabis product liability insurance, marijuana dispensary insurance, cannabis laboratory, and testing facilities, workers compensation for cannabis, cannabis general liability insurance, among other related policies. For all these insurance coverages, OG Cannabis serves many regions to ensure reliable services to customers. These include Virginia, New York, Texas, New Mexico, California and more.

Marijuana Dispensary Insurance

Marijuana Dispensary Insurance covers cannabis products as well as non-cannabis products. Marijuana dispensary insurance covers dispensary inventory such as cannabis crops, edibles, CBD products, and non-cannabis products. However, this service is specially tailored for medical cannabis as well as recreational cannabis. It includes product recalls and product withdrawals and covers scheduled Cannabis, Non-Cannabis Products, Edibles, and equipment manufacturers.

Cannabis Property Insurance

Cannabis Property Insurance is a must for dispensaries. It covers theft of property with no sublimity, fire and has multiple deductible choices to ensure your dispensary’s property is protected from losses you may incur as the result of risk. Areas covered by this service include Dispensary inventory such as Cannabis, edibles & CBD products; business personal property including office supplies furniture computers and machinery building structures, tenants’ betterment, and improvements such as fixtures, alterations, installations, money, and securities which include all of your profits, and outdoor property which inch include fencing and signage of your building, third party personal effects, and employee dishonesty.

Cannabis Product Liability Insurance

Cannabis Product Liability Insurance service provides coverage to products of consumers such as cookies, brownies, candy, drinks, extracts, etc. It also covers non-cannabis products that are critical to cannabis business operation such as grow equipment, aps, outlets, heavy and light manufacturing equipment, vacuum ovens, lighting, vaporizers, water pipes, pipes, filters, personal products such as soaps and candles, etc.

Cannabis Laboratory and Testing Facility Insurance

Cannabis Laboratory and Testing Facility Insurance covers bodily injury and property damage, landlord additional insured endorsement, cost of defense, medical cannabis and recreational cannabis, recall of products, and withdrawal of products, hemp, and CBD products as well as non-cannabis products such as edibles.

Workers’ Compensation Insurance

Workers’ Compensation Insurance covers the liability of workers. Our services cover Phoenix in Arizona, San Francisco in California, Hollywood in California, Las Vegas in Nevada, Denver in Colorado, and Portland in Oregon.

Auto & Cargo Insurance

The Auto & Cargo Insurance for Marijuana Distribution or Security covers dispensaries, delivery to patients, distribution – For Hire, and cultivators.

General Liability Insurance

General Liability Insurance for Cannabis Businesses covers Bodily Injuries, property damage, operational costs, personal injury, product liability, and legal expenses.

Cover Your Marijuana Dispensary Business with the right Cannabis Insurance!

Your cannabis business is your livelihood. Showing up to find a major disaster has occurred could be the worst possible scenario for any entrepreneur. Fortunately, OG Cannabis Insurance provides all of our clients with the necessary coverage in case anything goes wrong so you can continue operating without worry or interruption.

Contact OG Cannabis Insurance to get the right insurance coverage for your cannabis business. Get a quote today.