General Liability Insurance
A standard insurance policy is issued to business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability. All businesses holding a distribution license in California are required to have Commercial Auto Insurance and General Liability.
Premises Liability Insurance
Premises Liability means protection against financial loss arising at the premises of the insured. If your location gets looted, vandalized, or robbed, this policy will cover your back.
Property Insurance
Property Insurance includes protection for your equipment, point of sale system, inventory (harvested property), property, and many other items you may have resulting from coverages such as THEFT, FIRE, SMOKE, EXPLOSION, EQUIPMENT BREAKDOWN, WATER DAMAGE, VANDALISM, HAIL, WIND.
Crop Insurance
Medical marijuana and retail cannabis growers may need crop insurance to cover the risk when something goes wrong with crops. The insurance applies to your seeds, active crops, and harvested crops.
Product Liability Insurance
Product Liability grants protection against financial loss arising out of the legal liability incurred by an insured because of injury or damage resulting from the use of a covered product. It only takes one claim for bodily injury or physical damage, and you could find yourself in court. Whether you create edibles, oils, or any other product, you need a plan covering the potential damages you may face. You may take every precaution, but life and business are always uncertain.
Inland Marine Insurance
This policy will protect your business if inventory is lost, damaged, or stolen while being transported not only through collision but also through cargo theft. Having this coverage in the eventuality of cargo loss during transportation can help you avoid great expenses, especially due to the value of cannabis goods in the current market.
Commercial Automobile Insurance
If you or your employees drive during the course of conducting business, you may need commercial auto insurance. Look for specialized plans if your business requires you to deliver or transport goods.
Business Interruption Insurance
What would happen to you, your business, and your employees if you have to cease trade due to a disaster or emergency unexpectedly? This type of insurance protects you from a major loss in these situations.
Professional Liability Insurance or Errors and Omissions Insurance
Professionals who offer advice, consult, or design products may need insurance coverage if clients sue for alleged misjudgments or errors made while offering services.
Equipment Breakdown Insurance
Coverage for loss due to mechanical or electrical breakdown of nearly any type of equipment. Coverage applies to the cost to repair or replace the equipment and any other property damaged by the equipment breakdown. Resulting business income and extra expense loss are often covered as well.
