CANNABIS GENERAL LIABILITY INSURANCE

WHY YOU NEED IT.  ONLINE APPLICATION.  ESTIMATED PRICE. SAMPLE QUOTE

Find the cannabis insurance coverage you need. Insurance quotation

WHAT IS CANNABIS GENERAL LIABILITY INSURANCE?

What does cannabis general liability do for my cannabis business?

  • Think of lawsuits or claims.  Someone decides to sue or file a claim against your cannabis business.  Perhaps a visitor is injured.  Maybe a neighbor decides to sue you.  The party filing the claim are alleging property damage or bodily injury.  Meaning, they have been harmed as a person physically or property they own has been damage due to your cannabis business operating from that location.  The Sample Policy Langugage describes what is known as the Insuring Agreement.  This lays the foundation to how the policy may respond to a claim.  
  • Cannabis insurance carriers are typically insuring your premise or where the business is located.
  • What is the meaning of these liability limits $1,000,000/per occurrence and $2,000,000 per aggregate?  The amount  of money covering a claim or multiple claims.  You may increase this amount of coverage through an excess liability policy.
  • Why does Products/Completed Operations Aggregate indicate Excluded?  Because the insurance carrier is removing coverage for product liability.
  • What is the Damages to Premises Rented to You?  Coverage if your business leases spaces for potential liability.
  • What is the Personal and Advertising Injury?  Typically, unintentional copyright/trademark infringements, custody of a person against their will, false arrest, rights of privacy, etc…
  • Medical payments is typically offered at $5,000.  Why is it low?  Pays a person injured regardless of fault.  Perhaps the person was visiting your business.  Or, on their way to your business.  The carriers can use this limit to satisfy small claims and avoid the potential of further litigation.

 

Sample Cannabis General Liability Insurance Quote

Cannabis General Liability Insurance Coverage Limits

Sample Policy Language Known As Insuring Agreement

Cannabis general liability insurance sample policy information

Source © ISO Properties, Inc., 2006 (For Educational Purposes Only)

CANNABIS INSURANCE COVERAGE SUGGESTION!

Often overlooked is a coverage called hired and non-owned auto liability.  Think about your employees driving their vehicles on company business.  This additional coverage provides futher liability protection for your cannabis business.

Cannabis Business insurance with list of exclusions

Exclusions and more exclusions!  Why are they important for me to know about them?

  • Exclusions are basically saying:  NO COVERAGE.
  • You will find them on the quote, binder, and policy.  The carrier wants to make sure you know they exist!
  • The policy may have exclusions separated by page.  AND, the exclusions will appear in the main body of the policy.  This means you have to look carefully for where they are hiding.  
  • Examples of Exclusions:  Cyber Liability, Employment Related, Pollution, Assault and Battery, Products and Completed Operations, New Entities, General Exclusions, Computer Related Loss….
  • Known and understand about general liability insurance exclusions on your cannabis policy from a professional insurance broker.