With the cannabis industry growing faster than ever before, many people are starting cannabis businesses to make some extra cash. Cannabis businesses can be extremely lucrative and can be a great primary or secondary source of income.
Cannabis Businesses Can be Risky Without The Proper Safeguards
While the upsides sound great, cannabis businesses do come with a certain amount of risk and mistakes can end up costing you your livelihood. Luckily, cannabis insurance can go a long way towards mitigating some of that risk.
Why Do You Need Cannabis Insurance?
Cannabis insurance can help cover you if something goes wrong. Cannabis businesses face many threats including:
- Natural Disasters
- Lawsuits/liability issues
What Kinds of Coverage Can You Get For Your Cannabis Business?
There is a wide range of different cannabis insurance options available. Most cannabis businesses end up needing several insurance policies to ensure that they are protected against all possible property and liability risks. Some of the coverage types available are:
- General liability coverage
- Commercial property insurance
- Business interruption insurance
- Product liability insurance
- Workers’ compensation insurance
- Crime coverage
- Sign coverage
- Utility interruption coverage
- Employment practices liability coverage
Running a cannabis business is not always an easy endeavor. Make sure your business is properly protected and purchase cannabis business insurance today.