Marijuana Insurance Produced for the State of California
Managing the Cannabis Insurance Landscape in California
The legalization of marijuana in the state of California made waves across the United States, triggering similar legislation across the West Coast. Since then, the state’s cannabis program as matured to encompass both medical and recreational usage, with the passing of Proposition 215, California Senate Bill 420, and Proposition 64.
Along with legal developments, the weed industry has been progressive in the areas of production, processing, and dispensary. Although staying in line with growing trends is critical, so is maintaining proper protection from monetary loss. At Lions & Coventry Insurance Services, we specialize in securing marijuana insurance in the state of California, remaining up-to-date on developments within the cannabis industry.
Policies Planted with Your Marijuana Business in Mind
Before producing your policy, we take time to learn your business operations and identify specific needs. Upon review, our agents often find business owners associated with the California cannabis industry have incorrectly invested in ‘smoke shop’ or commercial policies that are designed for pharmacies, which do not cover marijuana dispensary. As an agency, our goal is to correct these instances and establish coverage to safeguard growth - from the start.
Once requirements are established, we select from a collection of coverages accessible within our marijuana insurance program. Coverages available to our California neighbors include, but are not limited to:
- Marijuana Crops
- Finished Stock
- Governmental Action
- Equipment Breakdown
- Indoor Grow Equipment
- Outdoor Grow Equipment
- Business Income
- Transit/Cargo Coverage
- Tenant Improvements
- Commercial Auto / Delivery Vehicle
Marijuana delivery drivers often use their own vehicle to administer deliveries. Insurance companies deliberately ask on the application if a vehicle is used for any business use. If this question is answered incorrectly, the instance could be deemed a misrepresentation and the insurance company may deny coverage. We recommend that employers invest in a commercial auto policy that will account for marijuana deliveries.
In some instances, marijuana-specific coverage may accompany a traditional business insurance policy. To learn more about this option, as well as obtain information on our complete offerings, contact our agency at your convenience.
Is Commercial Cannabis Coverage Available Near Me?
Our agents are committed to growing and evolving alongside current and prospective clients in the marijuana industry. We want to make the process of insuring cannabis as straightforward as possible, and continue ongoing service even after a policy is in place. If new employees are hired or changes in your operations take place, let us know and we will adjust your policy accordingly.
If you are interested in developing accurate coverage, feel free to request a quote. If a policy is not correct and rightfully addressed, coverage or a claim can be denied.