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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!

Is Your Business Covered In Case Of A Cannabis Accident

The cannabis industry has been able to experience a significant transformation over the past decade. Cannabis business owners have realized further growth and work within the confines of the federal law to contribute to the cannabis industry.

A cannabis business, just like other businesses, must make sure to operate efficiently and effectively. This means that it is necessary for cannabis businesses to consider their general liability insurance, business auto insurance policy, property damage protection, product liability insurance, and general property insurance.

Sure, thinking about general liability insurance, business auto insurance, product liability coverage, and legal fees can seem overwhelming, but it is necessary to have a long-term business.

When running a cannabis business, you need to be careful about many aspects at once. Each of these requirements stands tall in its crucial nature, from legal complexities to customer expectations. Otherwise, you can run into operational and financial issues that threaten the very existence of your venture.

One such requirement is cannabis insurance, which protects your business from general liabilities. But when it comes to specific risks in terms of a cannabis accident, the lines get a little blurrier to understand.

To help you determine if you can protect your venture from such third-party claims, here’s a lowdown on whether your business is covered in case of a cannabis accident.

What is a Cannabis Accident?

A cannabis accident can refer to an instance where your cannabis transport is involved in a road accident. Such incidents may include but are not limited to car crashes, property damage, and personal injury events.

Since a cannabis accident is directly related to the transportation of marijuana in any form, you must protect your business from such claims while steering clear of related prejudice. This protection comes in the form of cannabis insurance.

Does Cannabis Insurance Cover Marijuana Accidents?

The term “cannabis insurance” can refer to general business insurance for a cannabis operation. But to cover marijuana accidents through insurance, you need specific policies that help you on the road.

The reason is simple. Even when you have general liability insurance for your cannabis business, many of these policies do not cover your business automobiles or your inventory once it is in transport. That is where you require cannabis transportation insurance.

With a comprehensive cannabis transportation insurance policy, you can cover third-party claims and protect the goods and staff you are transporting. This can provide you with the financial coverage you need to protect your business.

What Does Cannabis Transportation Insurance Include?

Cannabis transportation insurance is a specialized policy covering all typical commercial auto insurance segments but full coverage for cannabis-related ventures.

This means that whether you are transporting cannabis items or taking your stuff from point A to point B, you can ensure that your business vehicle and its contents have a financial layer of protection.

This protection kicks in the following scenarios.

Third-Party or Liability Damages

If your business vehicle is involved in an accident that causes physical damage to someone else’s property or bodily harm to a person, your cannabis transportation insurance can cover the expenses. This saves you from paying out-of-pocket costs for property damage or personal injury claims.

Physical Damage to Your Business Vehicle

If your accident involves physical damage to your vehicle, your cannabis transportation insurance can take care of it. This usually applies if your car has sustained damage that does not involve a third party or when a collision accident involves the fault of an insured driver or vehicle.

Medical Expenses Coverage

If any occupants of your business vehicle are harmed in an accident where a third party is not involved or remains uninsured, you can turn to your cannabis transportation insurance to cover any medical expenses. This ensures that you have a safety net to fall back on in such situations.

Inventory Damages

Inventory damages during transit are usually covered under inland marine insurance. Through a comprehensive cannabis transportation insurance policy, you can rest assured of obtaining this coverage without any problems.

Why Regular Auto Insurance May Not Be Right For You

Regular commercial auto insurance often covers the same segments. But many companies do not entertain cannabis businesses as clients. Even when they do, their overall policies may make it difficult to process your claims and get coverage whenever cannabis transportation is involved.

In comparison, cannabis transportation insurance provides you with comprehensive coverage against such claims, even when transporting cannabis. This ensures that you can follow a hassle-free claims process that does not require you to lose coverage when you need it the most.

How to Ensure Your Chosen Policy is Right For You

When looking for cannabis transportation insurance, you must pay attention to crucial aspects and reach out to providers with direct inquiries. This allows you to pay for an insurance policy that provides the required financial coverage when the time calls for it.

To ensure that your chosen policy is right for you, you can ask the following questions when purchasing the insurance.

  • What type of coverage does the insurance provide?
  • Does the policy cover me against third-party claims?
  • Are medical expenses covered for my employees?
  • Is my inventory going to be covered in the case of a road accident?
  • What is the maximum coverage amount?
  • What is the premium going to look like for me?

If you have any other questions on your mind, make it a point to inquire about them as well. This ensures that you buy a policy with complete transparency and aren’t caught by surprises down the road.

Get a Cannabis Auto Insurance Quote Today!

We understand that you have quite a bit to deal with when you think about general liability insurance, business auto insurance, property insurance, and risk mitigation policies like crime insurance. Our experts realize that cannabis companies have to do their best to move forward with their business operations and minimize lost profits.

We strive to provide coverage and insurance policies to help your recreational marijuana or medicinal marijuana business minimize your risks.

At OG Cannabis Insurance, we provide comprehensive and reliable insurance policies for cannabis businesses. Whether you have a small operation or a large company, our solutions can help you find the coverage you need.

To see how our insurance offerings can help, don’t hesitate to reach out to us at (877) 473-7979 to get your quote today. We will be glad to understand your needs and find your ideal policy right away.

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