Facts About Marijuana Insurance Policies

Regardless of whether you own a small shop or manufacturing company risks such as theft or fire outbreaks will face your enterprise every day.Taking an insurance cover for your cannabis dispensary will ensure that you have a peace of mind as your property or inventory will be compensated in case anything happens to your cannabis dispensary.

You will be happy to note when taking a cannabis dispensary insurance policy that most cannabis insurance firms have different types of policies that will cover the diverse business aspect of your establishment.You may be surprised to know that the cost of insuring your cannabis dispensary is affordable.In fact for a small fee, most cannabis dispensary insurance companies will give you a cover of $1m in general liability insurance, $25,000 for medical coverage and $100,000 for your property. This property insurance will cover all your fixtures, furniture, and computer equipment.

Apart from the property, medicine, and general liability insurance policy, you will also be given a cover that will take care of your business income and extra expenses and product liability. As much as this two covers are not part of the regular standard medical cannabis cover, marijuana business insurance firms give cannabis dispensary owner's as part of their cover.

All the net income and the operational expenses plus employees salary is what is known as business income. On the other hand, extra expense is the additional expense that your enterprise will have to incur as a result of operating an enterprise that is often at risk of having fire break-outs. This, therefore, means that the business income and extra expense policy will cover all the costs that are involved in relocating to a new location as a result of a fire outbreak or the expenses incurred in locating a stock.
Manufactures of pharmaceutical marijuana products, cannabis dispensaries and smoking and gadgets are covered by the product liability insurance policy. This policy is designed to offer the owner of the cannabis dispensary protection from court cases that may be filed by cannabis users who developed adverse side effects after using their marijuana products.

You have to consider several things while choosing a cannabis dispensary insurance firm that will provide you with a cover for your marijuana dispensary.Make sure that the cannabis business insurance company that you wish to settle on offers covers for not only your cannabis dispensary but also for the marijuana growers, the cannabis kitchen and for the doctors who work at your dispensary. Before you purchase a cannabis insurance cover, it is always good to ask for a premium quote. Wishing you all the very best as you prepare to open up your Cannabis dispensary.