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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!

Why Choose a Cannabis Insurance Policy with Broad Coverage?

As any business owner knows, it is important to have an insurance policy that covers the parts of your business that need the most protection, no matter what may happen. The building in which your company is housed, the property on which it sits, the products and equipment that you utilize on a daily basis, any vehicles used during the workday, your employees’ health and safety, and anything else that contributes to your company’s productivity and long-term success in the cannabis-related business world.

For the cannabis industry, having the proper types of insurance coverage is equally as important but may be more difficult to acquire due to the kind of business you have. It is important that the insurance company which holds your policy has a clear understanding of your business as well as the insurance needs you have based on your company. When it comes to the cannabis industry, having an insurance policy with broad coverage can help to ensure that your business is covered no matter what happens.

Covering Your Assets in the Cannabis Industry with Property Insurance

Whether you have a marijuana dispensary or a grow operation or any other type of cannabis-based business, it is critical that your broad-spectrum insurance policy includes property and building insurance. If something catastrophic were to happen at your facility, store, or farm, you may lose your entire operation, your business income, and be forced to file for bankruptcy unless you have rock-solid insurance to cover your assets. Without coverage for the property on which you operate your cannabis business, one issue, large or small, could be a devastating blow. If a fire were to break out, it may wipe out your crop, products, equipment, and the property itself. With a full-coverage insurance policy that includes commercial property coverage, you can worry less about losing your business and concern yourself more with getting back on your feet.

At OG Cannabis Insurance, we have over 18 years of experience in the cannabis industry providing the fastest quotes and best coverage options to owners of cannabis businesses like yours. Because we have access to all of the top cannabis-approved insurance companies, we are able to ensure cannabis businesses get the right coverage they need without having to pay for insurance types they will never use.

From business interruption coverage to bodily injury, equipment breakdown insurance to professional liability and business income insurance and much more, our cannabis insurance team can work with you to get your business covered and take some of the stress away so you can focus on continuing your success in the cannabis industry for long into the future.

Ensure You Are Protected No Matter What

As you go about your day-to-day activities in your cannabis business, you will likely have a plan for each day and know exactly what tasks need to be accomplished. What you cannot plan for is an unexpected accident or another catastrophe that causes a direct physical loss. Having a policy that includes broad scope insurance coverage such as commercial general liability and commercial property coverage as well as employee-oriented coverage like workers’ compensation insurance ensures that you and everyone who matters to you and your company is covered.

Your company and the business income you generate are highly important to you as well as those who you care about. Your family relies on the income, and your employees rely on their ability to maintain their jobs in order to support themselves and their families. If something were to happen to cause your business to go bankrupt or otherwise be out of operation for a period of time, those individuals may be left unprotected. With an experienced insurance provider that understands your business’ needs, they can provide coverage and protect your business and those who count on it.

Keep Everyone Safe with General Liability Coverage

In general, liability insurance is one of the most common types of coverage in which every business owner should certainly invest for their insurance policies. It will protect your company from the risks of interacting with people on a daily basis. In the event that your products or services are found to be responsible for another person’s (i.e. a customer) property damage, bodily injury, or other damages, cannabis companies like yours can rely on your general liability policy to protect you from potential losses.

Product liability is also included in the general liability coverage, and this will ensure that your medical marijuana business or dispensary is covered in case one of your cannabis products or services causes harm or damage to a client. Your cannabis operation will be stable and continue to be able to operate successfully without a loss of income or other damages as a result of the coverage that you likely would not be able to get from traditional insurers.

Choose the Right Cannabis Insurance Company for Your Business

When it comes to deciding whether or not your cannabis company needs to invest in an insurance policy, the answer is an easy and definitive YES! Although the policy may not be inexpensive, it will save you time, energy, money, and stress in the long run. As with any type of insurance, you run the risk of never needing to use it and make claims (that’s actually a good thing!). But knowing that you have protections in place in case claims do need to be filed should put your mind at ease.

The stress of driving a car without insurance is enough to turn your stomach. Now, imagine how stressed out you would be if you were the owner and driver for a cannabis delivery service that has no commercial auto coverage on its fleet or drivers? We didn’t think so either.

At OG Cannabis Insurance, our team is available to discuss all of the insurance types we can help you with and what kind of coverage your company needs. Many cannabis businesses are unsure of what they most require, and our insurance carriers can assist you with anything you need. Policies cover cannabis property, equipment, products, and anything else that is a key component of your business.  We can help to create custom policies that suit your cannabis company so that you can rest easy knowing your investment is safe. Contact us today at (877) 473-7979 to learn more about our insurance services and to start developing your commercial cannabis insurance policy now!

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