All About Dispensary Insurance

The legal cannabis industry is one of the fastest-growing markets in the United States.  There is no better time than now to open a dispensary.  However, owning a dispensary is not a risk-free endeavor and it is important to be properly insured.  This is where dispensary insurance comes in.

Why Do You Need Dispensary Insurance?

While running a dispensary can seem like an easy and relaxing way to make good money, the reality is that things can go wrong.  Things like fire or theft can be huge setbacks that can ultimately cause your dispensary to go out of business if you don’t have insurance.

What Types of Coverage Do You Need?

There are a number of different types of insurance coverage that are a must-have for any dispensary.  These types of insurance are:

  • General Liability: Protects you against situations where you accidentally cause harm to a customer’s person or property.  This includes things like defective products and false advertising.
  • Property Protection: Provides coverage for all of your dispensary’s property.  This includes things like your equipment, your inventory, your furniture, and your fixtures.
  • Business Income Protection: This type of insurance coverage replaces income lost if you are forced to close temporarily because of things that fall out of your control.  An example could be closing due to fire damage that has to be repaired before you can open again.

Running a dispensary can be extremely lucrative.  Having good dispensary insurance can help everything run more smoothly.

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