ANCILLARY BUSINESS INSURANCE

Marijuana Insurance Agent’s mission is to offer insurance policies to every type of business operating in the cannabis industry – from growers to smoking device manufacturers. In an ever-growing industry, you have to be prepared for any hardships you may encounter. A quality insurance policy can help you recover after suffering various types of losses.

We work with ancillary businesses such as:

– Hydroponic stores
– Head shops and tobacco shops
– Resellers of electronic smoking devices (vaporizers, e-cigarettes)
– Product manufacturers
– Glass blowers

Threat of losses seem an unlikely possibility at first, but you shouldn’t wait until it happens to you. Unfortunately, marijuana dispensaries and ancillary businesses are frequently targeted by burglars.

Protect yourself against unfortunate events with our Ancillary Business Insurance.

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The following insurance policies are available to ancillary businesses:

General Liability Insurance

General liability insurance is a type of coverage all companies must have – it protects your business in the event of:

  • Bodily injury sustained at your business establishment
  • Personal injury, such as claims of libel or slander
  • Medical costs and/or damages arising from bodily injuries sustained at your business establishment
  • Costs associated with defense fees, compensatory damages, punitive damages or settlements following lawsuits
  • False advertising claims and damages associated with them

Additionally, general liability insurance is crucial for obtaining a state license in most states.

Product Liability Insurance

The products you manufacture or sell provide a livelihood to you and your employees. These products need to be protected. As a manufacturer, you can be held liable for any oversight in the design or manufacturing process of the product. As a store owner, you can be held liable for not providing accurate instructions to your customers.

In the event of a lawsuit concerning the products you manufacture or sell, product liability insurance can be used to cover legal fees and awarded damages (both compensatory and punitive).

Business Interruption Insurance

Business interruption insurance is designed to cover income that is lost when your business is damaged or needs to move to a different location. By opting for this type of coverage, you make sure that your business doesn’t lose funds while it is recovering.

Money and Securities Coverage

Money and securities coverage is a must-have for stores. This type of insurance covers cash and checks collected from your customers, which haven’t yet reached the bank. As money can be stolen or destroyed in the event of theft, fire, or other hazards, businesses need to have a way of protecting it.

Workers’ Compensation Insurance

Workers’ compensation insurance helps you avoid a lawsuit in the event of injury sustained by your employees. This type of insurance covers the medical expenses of employees who have fallen ill or injured themselves while working for you, as well as a part of their regular pay while they are recovering. In the event of death, funeral expenses and death benefits are paid to the family of the deceased.

Cargo Insurance & Commercial Vehicle Insurance

As a business that transports its products to different venues, you have to protect your property even while it is being transferred from one place to another. Cargo insurance offers coverage for products damaged or stolen during transport, while commercial vehicle insurance offers coverage for damaged or stolen vehicles, as well as injuries sustained by the person driving your company’s vehicle.

Business Property Insurance

This type of insurance protects your owned or rented property. Coverage is available in the event of:

  • Fire
  • Explosions
  • Theft
  • Vandalism
  • Natural hazards (e.g. windstorms, floods)
  • Technical malfunctions (e.g. burst pipes)

The property types covered by business property insurance include:

  • Buildings and land used by your business
  • Furnishing
  • Professional equipment
  • IT equipment, software and data; costs associated with data recovery
  • Product inventory
  • Third party property