Cannabis cultivators and processors encounter many risks. Whether those exposures come from severe weather, fires or other causes of loss, a comprehensive commercial insurance portfolio can provide coverage for your business.

The experienced team at Sebrite Agency in Minnetonka, Minnesota, can help you navigate the complex regulations as you secure the policies you need. Contact us today for additional information.

What Coverages are Available for Cannabis Cultivators and Processors?  

Several types of insurance coverages are available for cannabis cultivators and processors, such as the following:

·        Liability insurance— This may help compensate affected parties and cover legal costs (e.g., court fees and judgments) if your business is responsible for the injuries or property damage to others through your operations or products. Several types of liability insurance may be available, including:

·        Commercial general liability insurance

·        Environmental liability insurance

·        Products liability insurance

·        Completed operations liability insurance

• Farm equipment insurance—This may help pay repair or replacement costs if a covered cause of loss (e.g., fire, wind or theft) damages your farm machinery or equipment.
• Commercial property insurance—This may provide financial assistance if your business property is damaged or destroyed by covered perils (e.g., storms) or if it is stolen.
• Business interruption insurance—This may cover lost income if a covered event forces you to shut down your operations temporarily.
• Crop insurance—If you experience crop losses due to covered events such as droughts or disease, this may provide financial assistance to help recuperate lost income.
• Cyber insurance—This may help cover expenses and recovery costs associated with a data breach or other cybersecurity event.

• Commercial Auto Insurance—If your business owns vehicles, this may provide coverage if they are damaged or in an accident. Hired and non-owned auto coverage may also be available to provide liability coverage if your operations utilize rented, leased or personal vehicles for business purposes.

• Workers’ compensation insurance—This may provide payments to help cover medical expenses and lost wages if an employee suffers a work-related injury or illness.  
• Umbrella insurance—If a liability claim exceeds your other policies’ liability limits, this may help fill in the gap.  

Other policies and endorsements (e.g., inland marine insurance, equipment breakdown insurance and product recall insurance) may be available to meet your specific needs. Contact your agent for more details regarding options, exclusions and limits. 

Contact Us to Get Coverage 

Cannabis cultivators and processors work in a highly regulated industry with unique risks. The knowledgeable professionals at Sebrite Agency can help you build a comprehensive insurance plan that suits your needs. Contact us today for more information.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.