Insurance for Smoke Shops, Vape Stores, E-Juice, Cannabis Dispensaries, CBD, and Nutraceutical Operations.
Full cannabis operations coverage: Growers | Processing | Transportation | Dispensaries
The legal cannabis insurance has evolved very rapidly with the legalization of recreational and medicinal marijuana.This has allowed many businesses to emerge from the outlawed stigma of pot businesses into the mainstream.
It is now easier to obtain quality, comprehensive, insurance coverage for Smoke Shops, Vape Stores, and Cannabis products. Policies can include world wide coverage and products imported from overseas.
Cannabis Insurance | Marijuana Insurance
Cannabis risks, including cannabis dispensaries, cannabis growers, distributors, and processors are underwritten by industry experts in this field. Lines of coverage include liability, property, transportation, theft, spoilage, and even pot raid coverage by authorities. Also offered are crop insurance, and equipment breakdown insurance, for greenhouse operations.
CBD Insurance, also known as Cannabis Hemp Insurance or Industrial Hemp insurance, is unique. This is a line of coverage insurers review very carefully, due to spillover risks from non THC to THC composition. CBD oils are typically extracted from Industrial Hemp Cannabis. However, if it contains THC, it shifts to cannabis insurance. Non THC, CBD is covered under Nutraceutical Insurance. The majority of current liability coverage do not overlap between these two separate forms of CBD, creating gaps in coverage during a claim. Trace amounts of THC can be found in industrial hemp derived cannabis, a concern for non THC CBD resellers. Additionally some states are restricting interstate commerce for edibles derived from Industrial Hemp, creating more restrictive environment for inter state commerce.
We offer full coverage for both lines of coverage. Delivery mechanisms for CBD can be vape, edibles, drinks or tinctures. There is a thin gray line between marijuana, CBD, and nutraceutical coverage. We urge clients to carry their own insurance, based on their operations, rather than relying on insurance from their suppliers. Insurance is typically specific to specific products and a careful review of products will determine the insurance structure.
Products imported from overseas are subject to special scrutiny in the event of a claim. Most insurance policies exclude coverage for products directly imported from overseas. Special endorsements are needed for such businesses.
Insurance for hemp and medicinal marijuana insurance is on the cutting edge of insurance policies. Cultivators, manufacturers, testing labs, distributors, transporters, and dispensaries are keenly aware of the fine lines between Federal and State laws. This includes products infused with CBD oils and Marijuana, crossing state lines.
A thorough insurance program takes all aspects of these concerns into account. We ask questions to carefully assess your current and future exposure, and craft policies specific to your business.
We offer coverage for edible marijuana, vaporizing products, smoking devices, and dispensaries.
Nutraceutical Insurance
There is a spillover in coverage from non THC products to variants of CBD. This includes relaxing drinks, vitamin supplements, dietary supplements, CBD infused products, energy drinks, enhancement pills, etc. Nutraceutical insurance is specific to this exposure. This insurance is required in the chain of commerce in the event of a claim.
Vape & E-Juice Insurance | Smoke Shop Insurance
We offer comprehensive coverage for Vape Store insurance, including products liability for domestic and imported products. This includes insurance for batteries, mods, and other accessories. Coverage for E-juice with nicotine and CBD is included. Also included is worldwide coverage for liability law suits brought to the United States. Policies can be amended to remove health exclusions associated with such law suits.
Policies can also be written for pipes and smoking accessories specific to smoke shops, also known as headshop insurance. This includes coverage for paraphernalia and other products sold.
Lines of coverage offered are:
- General Liability, including Products Liability.
- Property Coverage, for loss of income, fire, theft, and seizures, equipment breakdown, including extraction.
- Stock Throughput for stock in phases of production, including finished stock, plants, and equipment.
- Transit Insurance, for loss of product in transit
- Workers Compensation
- Umbrella or Excess Liability
