Finding the Right Insurance Coverage for Your California Dispensary

Cannabis dispensaries face increased liabilities. While marijuana is legal for medicinal and recreational use in California, its federal classification of marijuana as a schedule 1 drug means some insurers will decline or limit coverage for your operations. That doesn’t mean you are without options, however. CannGen explains dispensary coverages here, and how you can find the right coverage for your unique business needs.

Secure the Right Types of Insurance

If you are operating a dispensary in California, there are certain types of insurance you should carry to reduce liability and protect your assets. These include:

  • Product liability coverage shields you in case a claim is made against one of your products.
  • Property damage coverage will pay for damages to physical structures on your business property in the event of theft, fire or vandalism.
  • General liability insurance covers claims made against your business by visitors, customers and employees. It might cover medical payments, claims arising from slander or libel and legal costs.
  • Workers’ compensation coverage will pay for medical expenses and lost wages for employees after a covered accident or injury.

Work With an Insurer Familiar With the Cannabis Industry

An insurance agent and company that is familiar with the inherent risks in the cannabis industry can offer advice and recommendations for your insurance package. That type of assistance will be invaluable in finding the right coverage for your business needs.