Insurance Requirements for the State of New Jersey

In the State of New Jersey is a.k.a The Garden State has no specific state requirements for business insurance for licensed cannabis dispensary, cultivation, or manufacturing facilities.  A guide to prepare for your application does indicate having a plan for buying cannabis insurance.

You should note certain cities might have insurance requirements.  If you have employees, every state including New Jersey requires workers compensation insurance. 

New Jersey is susceptible to the following types of claims:

• Winter Storms: Snowstorms, ice storms, and blizzards can cause hazardous road conditions, power outages, and property damage.
• Nor’easters: These powerful storms bring heavy rain, strong winds, and coastal flooding, particularly along the Jersey Shore.
• Hurricanes and Tropical Storms: New Jersey is susceptible to the impacts of hurricanes and tropical storms, including heavy rainfall, flooding, storm surge, and high winds.
• Thunderstorms: Severe thunderstorms can produce damaging winds, hail, lightning, and flash flooding, leading to power outages and property damage
• Heatwaves: During the summer months, heatwaves can lead to health risks such as heat exhaustion and heatstroke, as well as strain on electrical grids due to increased demand for air conditioning.
• Flooding: Heavy rainfall, snowmelt, and coastal storms can cause flooding in low-lying areas, rivers, and urban areas with poor drainage infrastructure.
• Tornadoes: While relatively rare compared to other parts of the country, tornadoes can occur in New Jersey, causing localized damage to buildings and infrastructure.
• Drought: Periods of dry weather can lead to water shortages, crop damage, and increased risk of wildfires.
• Coastal Erosion: Storms, sea level rise, and erosion can threaten coastal communities and infrastructure, leading to property damage and loss of beaches.
• Extreme Cold: Sub-freezing temperatures during the winter months can pose risks to public health and safety, as well as increase demand for heating fuel.

Need more claim information?  Review our claims pages for important information based on our experience.

If you are a landlord who owns a building with a cannabis tenant you must not only consider weather related events, but damage to the building if there is a theft.

Is there a cannabis surety bond required in the State of New Jersey?

Currently there is not a licensing bond required in New Jersey.

Atlantic
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Burlington
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