Cannabis is now legal in Canada and the industry is growing and evolving at a rapid pace. If you operate a licensed business in the marijuana industry you need insurance to protect your investment.
With the ever changing regulatory environment you need to be proactive at managing business risks. Cannabis business coverage is available in Ontario all regions where cannabis is legal.
At ThinkInsure, our business insurance expert can advise you on insurance solutions and how to mitigate risk. Get the coverage you need to protect your business property, products, and equipment. We’ll ensure you have protection against liability claims and other risks related to the cannabis industry.
Here you will learn :
Cannabis insurance is coverage for businesses that operate within the industry. This includes licensed growers, producers, dispensaries, retailers, and all other ACMPR-related businesses.
Cannabis insurance is commonly referred to as medical marijuana insurance, pot farmers insurance, and marijuana dispensary insurance. It provides custom coverage to help companies reduce specific risks and perils unique to the pot industry.
The Cannabis industry is very new and a stigma still exists. Having proof of business insurance, and coverage specific to the industry, shows your legitimacy as an organization. It shows potential investors, business partners, and others you are a legitimately run operation. It also provides customers, investors and others with reassurance that you have insurance if an issue arises.
Much like all other industries, the cannabis industry has exposure to a variety of risk factors. Cannabis insurance helps you manage these specific risk associated with being a producer, grower, or retailer of marijuana products.
The cannabis industry has a variety of business types. They include distribution, harvesting, manufacturing, laboratories, retailers, wholesalers, and dispensaries. There are also supporting business in equipment and technology development.
Choosing the right coverage for your business type is important. Here are some of the types of cannabis business insurance you can get for your company :
Distribution companies help cannabis growers and manufacturers distribute their products to customers and retailers across the country. We can help you get the right coverage to provide your business with proper liability protection. We can ensure you have coverage for any issues that could arise during the cannabis distribution process.
If you operate a facility that grows medical marijuana or cannabis you need coverage. You need to protect your facility, operations, equipment, and more. We’ll make sure your property has protection and you have coverage for unforeseen events that could impact business operations.
Producing and manufacturing cannabis comes with a unique set of business risks and liability. Our insurance experts understand these risks and will help you get the right coverage to protect your business.
Operating a cannabis retail store or website presents similar risks other small businesses face in Canada. You’ll face some unique risks as well. Make sure your storefront has protection.
There is no one size fits all policy for companies operating in the cannabis industry in Canada. Your coverage needs depend on your business type, operations, size, number of employees, risk exposure, and many other factors. Coverage needs are set on a company to company basis.
Cannabis insurance coverage options are similar to the coverage offered to businesses in other industries. However, coverage is catered to meet the unique needs of the marijuana industry.
You need coverage whether you own or rent a facility. This includes locations that legally grow, produce, manufacture or package marijuana and recreational or medical cannabis products. You need specific coverage to protect your facility and equipment against theft, fire, vandalism, and water damage.
Protect the investment in your company with commercial cannabis coverage. Get coverage for equipment, supplies, stock and more :
Cannabis industry property insurance coverage can include equipment breakdown coverage, crop insurance, cargo insurance, and landlord insurance.
Cannabis companies require standard liability coverage most small businesses carry. But they also require liability coverage related to the products they sell, regulatory issues, and other forms of liability as the industry evolves. Some of the types of commercial liability coverage applicable to the cannabis industry include :
Regardless of your role in the cannabis industry, you need business insurance that meets your unique needs. Cannabis insurance coverage is available for companies in all aspects of the production cycle :
Your business must operate under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) to qualify for cannabis insurance coverage.
The cannabis insurance market is evolving just as much as the cannabis industry. Both are in its infancy. New types of coverage, new insurance products, and more insurance companies will offer coverage in the future. This is an opportunity for cannabis companies to compare quotes. You can explore options and identify ways to get cheaper cannabis insurance rates.
We’ll help you quickly compare quotes. Find the best rates for licensed dispensaries, producers, retailers, and professionals in the medical marijuana and cannabis industry.
Our business experts will help you find the right coverage for your business at the cheapest rates possible. We’ll help you maximize insurance cost savings.
We work for you. We are your trusted advisor for all your business insurance coverage needs. We’re here to answer your questions, help you claims, renewals, and comparing quotes.
We save you time and effort. Request a quote online or give us a call. We help you shop, compare, and save on cannabis insurance quotes.
We have access to coverage from the best marijuana and cannabis insurance providers. We’ll help you find the tight policy.
Need to the legal cannabis industry? Have questions about your coverage options? Get answers to common questions about cannabis insurance coverage :
Yes. If you operate a business within the legal cannabis industry you can get coverage specific to your needs.
This is a specific type of coverage to provide you with protection in the event of a product recall. It could be a result of labelling, manufacturing or contamination issues.
This is coverage that is specifically for marijuana growers. Coverage meets their unique business needs.
This type of policy provides coverage for pot grower’s equipment and plants. It offers coverage for liabilities related to growing cannabis.
Grow ops, like all other businesses, require a variety of types of coverage. This includes commercial property, product liability, E&O, equipment breakdown, and more. Speak with your insurance adviser to find the right policy to meet your business needs.