Imagine you have a fire, and your cultivation had over 200 plants in various stages of growth? You lose everything. How are you going to recover the lost income resulting from this claim? We have answers. A cultivation can insure for direct physical loss due to perils such as fire, vandalism, theft, and more. Not only will we cover the replacement value of the crop, but we can insure against the lost business income. Crop Insurance and Business Income go hand in hand!

Marijuana insurance arena is new and you need someone who is an expert in Cannabis coverages. There are policies being placed today that lack the core components of what it is we are looking to insure against. For example, if a cultivation was to contact an insurance broker and they put them into a coverage form that was written incorrectly, it is all fine and dandy until the time of loss. At the time of loss, an insurance carrier might say that the policy forms were not written correctly or the agent may have put the business in the wrong policy. Exclusions and warranties could render the policy useless. As you know, running a successful Cannabis business is complex and so are your insurance needs.

So what is the answer to insuring your Cannabis business income?

1. Find the right agent with the specific experience in the Cannabis industry.

2. Look toward insurance providers that have a proven track record insuring Cannabis

3. Watch the policy forms to look out for exclusions and warranties.

4. Coverages have different features such as claims made vs. occurrence forms. How might that effect your business?

5. Look to bundle the insurance as many coverages follow each other in form. For instance you cannot get business income without crop coverage!

6. Educate yourself and ask questions to the agent and document.

Your business is working hard to build your dream. Let a trusted insurance advisor protect that dream. Insurance in the Cannabis industry is changing rapidly and there are more coverages available to your marijuana business then you might think!

Contact us and we'll give you a free policy review, plus go over all the changes and new Cannabis specific policies available for your business.