DISPENSARY INSURANCE

Like all other businesses, marijuana dispensaries need insurance. After all, a marijuana dispensary is an investment that provides a livelihood for both the owner and the employees. By not covering yourself you are endangering that livelihood, along with the time and money you have invested into your business. Without marijuana dispensary insurance, you could lose your business overnight.

Threat of losses might seem like a distant possibility, but you shouldn’t wait until it happens to you. Unfortunately, marijuana dispensaries are frequently targeted by burglars.

Insuring your dispensary is the best method for protecting your business against unfortunate unexpected events. Without insurance, such a hit can make it difficult for your business to properly recover. Get in touch for a quote today.

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The following types of Marijuana Dispensary Insurance are available:

General Liability

This type of coverage refers to the basic elements of your business. General liability insurance is required for obtaining state licenses in most states.

Product Liability

Businesses are being sued daily. Worst of all, they don’t even have to be at fault in order to end up with a tarnished reputation. Where medical products are concerned, consumers are even more likely to claim that they have experienced negative side-effects.

Product liability insurance will protect you against lawsuits and a shattered public image. Furthermore, with the right coverage policy Marijuana Insurance Agent will pay for defense fees, damages and settlement costs in the event of a lawsuit.

Property Protection

A property protection plan can help your business recover faster in case of vandalism, theft, fire or other damages. Property insurance covers the cost of damaged inventory, furniture, and equipment. If you are renting the property where your business is conducted, your property protection plan will also include coverage for tenant improvements and betterments.

Medicine Coverage & Cargo Insurance

Medicine coverage is designed to protect your inventory of cannabis. Cargo insurance will protect your products (mainly against theft) while they are being transported from the cultivation facility to your marijuana dispensary.

Money & Securities Coverage

This type of coverage is vital for your dispensary. With the large amounts of money kept on-site it’s vital to insure this asset. Without money and securities coverage, you stand to lose all the money and checks from your customers in the event of theft or destruction.

Business Interruption Insurance

Why would you need business interruption insurance? You might be recovering after a disaster, rebuilding your dispensary, or simply moving location. This type of insurance covers your loss of income during such a period.

Maintaining a business costs money – insurance also has its costs. However, these costs are insignificant compared to the financial difficulties you would face if you were to rebuild your marijuana dispensary on your own after a damaging incident.