Insurance for Cannabis Dispensaries

Relatively new to the market are Cannabis Dispensaries, or stores that dispense marijuana for medical ailments. Over the last several years, many states have taken steps to legalize the sale of marijuana, as it has been proven to be useful in treating a variety of illnesses. Given the nature of the products sold, these stores come with a special set of risks and liabilities, from theft and burglary, to employee dishonesty and more. It's important to insure the owners and operators of these businesses adequately to safeguard against loss and liability. States in which medical marijuana is legal include: 

  • AK, AZ, CA, CO, CT, DE, DC, FL, HI, IL, ME, MD, MA, MI, MN, MT, ND, NV, NH, NJ, NM, NY, OH, OR, PA, RI, VT and WA

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Coverage Recommendations

In addition to the normal coverage requirements for any small business, such as General Liability, Property, and Business Interruption, owners of Cannabis Dispensaries should also consider adding:

  • Medicine Coverage: This coverage can include protection against theft, fire and other damages to inventory in the dispensary.
  • Product Liability: Some of the products sold in Cannabis Dispensaries can potentially cause harm to patrons. Smoking devices, cannabis products, vaporizers and more have the potential to cause negative side effects or injuries to customers. Product Liability coverage will give owners protection against damages, customer injuries, and lawsuits by offering coverage for legal fees, settlements, and claims made against the store.
  • Commercial Auto: If the owner has automobiles used for the delivery of products, or other business related trips, they will need auto coverage for themselves and employees.
  • Excess/Umbrella Policy: In the event a loss exceeds the limits of the other policies in force, Umbrella coverage can provide extra protection.