Cannabis Insurance

Your risk profile depends largely upon the structure and the operations of your business. Once you fill out our application, a licensed insurance agent can assess your needs and recommend an insurance portfolio that gives you comprehensive coverage. Check out the sections below to learn more about each insurance type for your business:

General Liability: Protects the commercial insureds from claims such as bodily injury on business property, property damage, and personal and advertising injury.

• Occurrence - "A+ Rated" Carrier
• Up to $2.0M /$2.0M Occurrence/Aggregate
• Pesticide and Herbicide Applicators Endorsement
• Waiver, Primary, and Non-Contributory Endorsements

 

Product Liability: Protects you against claims made due to property damage, illness, injury, or death caused by the use of your product.

• Claims Made – "A Rated" Carrier
• $1M /$2M Occurrence/Aggregate
• Product Withdrawal Endorsement

 

Excess Liability: Provides additional limits of insurance.

• Occurrence - "A+ Rated" Carrier
• Up to $4M Limits
• Up to 5 years Retro Date

 

Property: Covers your business’s building(s) and the contents within from loss or damage sustained from a peril, such as a fire or explosion. Also encompasses inland marine, boiler, machinery, and crime insurance.

• ISO Property Forms – "A+ Rated" Carrier
• Up to $10M Property Limits Per Location
• Property Endorsements - Including Transit/Cargo
• Stock Throughput Options

 

Crop:

• Non-Admitted Carrier – "A+ Rated"
• Up to $10M Living Plants
• Stock Throughput Options

 

Equipment Breakdown:

• Admitted Carrier – "A+ Rated" Carrier
• Up to $10M Limits
• Loss of Business Income
• Reputational Recovery
• Data Compromise

 

Workers Compensation: Benefits provided by an employer to an employee (or family) due to job-related injuries (including death) because of an accident or occupational disease.

• All 50 States
• Classification Minimum Premium May Apply

 

Cyber Liability Insurance: Protects your business’s sensitive information in the case of malware attacks, phishing scams, and ransom attacks. Cyber Liability Insurance also protects your client’s private information in the case of a data breach or cyber attack.

We know insurance can be confusing, and picking the right coverage for your business is important. Live chat with us below, or talk to a verified agent atGet A Free Quote

Every business is different and no two crops are the same. For example, cannabis dispensary insurance coverage and commercial liability insurance for industrial CBD/Hemp will most likely require different types of coverages. Your insurance plan will be tailored to meet the needs of your business. The price depends on a variety of factors, such as, but not limited to:

• Size of your business
• Sales revenue
• Coverage amount desired

 

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One of the main issues business owners face are concerns around liability arising from their products and operations. Under the definition of “strict liability,” a person who is injured by a product may be entitled to compensation for their injuries without showing that the manufacturer or seller of the product was actually negligent. Attorneys' costs, court fees, medical bills, and settlement costs can accumulate at a staggering rate. Not having liability coverage puts everything you have built at risk.

Additionally, many mainstream insurance carriers will not offer coverage to cannabis-related businesses because of the higher risks. This leaves your business vulnerable to both first-party and third-party lawsuits. Insurance Canopy offers you the necessary coverage to safeguard your business and strengthen your risk management plan.

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