Think of lawsuit from a third party who was injured because of your business premise.  Easiest example is a customer falls in the parking lot.  May include unintentional copyright or trademark infringement.  Most cannabis policies can exclude coverage for product liability.

Think of lawsuit from a third party who was injured because of your product.   As an example, a customer buys concentrates from a store and suffers physical harm from consuimg this product.  A store sells to a customer who informs them a product can treat a particular medical condition causing harm to this customer.

No.  The cannabis insurance carriers treat cannabis stock and living plants as separate coverage lines.  Business personal property is furniture, fixtures, equipment, and other physical assets.  Cannabis stock and living plants are NOT included in busines personal property.

Each insurance is their own unique requirements.  Typically, you will need a 800 pound safe bolted to the ground.  If you have a vault, please have it approved by the insurance carrier before buying insurance.

Insurance carriers base their pricing either on revenue or square footage for liability coverage.  Property coverage is based on the type of coverage being purchased and priced on a factor per $100 of coverage.

Coverage extensions such as coverage for cash and employee dishonesty and equipment breakdown can be inexpensive “add on’s.”  If you have employees driving their vehicles for company business adding non-owned automobile liabilty is important liability protection.

Business income and extra expense acts similar to a disability insurance.  If your business suffers a property loss, this coverage provides income, operating, and payroll expenses.