Commercial Property Insurance2018-03-05T15:01:47+00:00

COMMERICAL PROPERTY INSURANCE

Most property owners face unexpected cancellation of their lessor’s risk insurance when their respective insurance companies find out that marijuana-related businesses are operating on the premises. As a property owner and lessor, you cannot let your property remain uninsured. Upon identifying the types of businesses located on the insured property, insurance companies usually terminate policies within 30 days in order to avoid the associated risks. In other cases, they simply alter their rates; thus, property owners can either conform and pay a much higher price than before, or try to find another insurance company willing to insure their property.

Marijuana Insurance Agent is here to protect your property. By purchasing an insurance policy from a company that is truly focused on marijuana-related businesses and properties, you can rest assured that your coverage will remain unaffected. Furthermore, we will not raise our rates overnight. On the contrary, the risks associated with your property will be properly assessed, and you will receive a quote before the commencement of your lessor’s risk or commercial property insurance policy.

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Commercial Property Insurance Policy

Commercial property insurance covers multiple types of damage, and is indispensable to the safe letting of your commercial property. Damage types covered by this insurance policy include:

  • Damage and loss associated with the commercial building, including fire, explosions, theft, vandalism or riots
  • Damage and loss associated with the contents of the commercial building, such as furniture or appliances that were provided to your tenants by you
  • Re-housing of the lessee in case of serious accidents or natural disasters (e.g. landslides or floods that destroy the commercial building); repairs in case of structural damages to your property
  • Costs associated with business interruption – if your commercial property is deemed unfit for its intended purposes after a damaging incident, you can receive coverage for your lost rental income
  • Premises liability, which covers compensation claims in case of an accident or injury that has been sustained on your leased commercial property by a third party, such as a customer of your lessee
  • Workers’ compensation insurance, which covers medical expenses and lost income of an employee who has sustained an injury while working on the premises of your leased property

Lessor’s Risk Insurance Policy

As a lessor, you do not want to be held liable for your lessee’s property loss, or for injuries sustained by the lessee, their employees or customers. This type of insurance protects you from claims that are made against you by your tenants. The lessee and the persons they are liable for might sustain accidental injuries or property damage on your property. Lessor’s risk insurance will cover the costs associated with repairs or replacements needed after such an event.

Various Coverages

We offer coverage for various types of commercial properties that are leased to businesses operating in the cannabis industry, such as:

  • office buildings
  • warehouses
  • farms (land and associated buildings)
  • greenhouses
  • industrial property
  • retail stores

Your lessor’s risk insurance and commercial property insurance policies will be tailored to your specific needs. After the assessment of your commercial property and associated risks, you will receive an appropriate quote from Marijuana Insurance Agent.

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