Talking With Insurance Companies

Operating a cannabis growing plant requires safe growing conditions and the introduction of safety measures. Learn how obtaining a general liability insurance plan can protect you when operating your business. 

The Importance Of Insurance Coverage

Growing any type of product that is going to be ingested requires that mandates are followed, as outlined by the jurisdiction where your cannabis business is located. Obtaining insurance coverage is the responsibility of a new business owner. Once insurance has been obtained, it must remain valid throughout the course of owning your business. Expansions to your business or a change in your business plan may necessitate modifying your insurance coverage.

Keep in mind that you may need to consult with an insurance agent on multiple occasions. If you are ever uncertain if your insurance policy needs to be modified, it is always best to consult with an agent. Even if a current general liability policy will not need to be modified, it is a wise decision to obtain clarification from an agent.

How Insurance Coverage Will Benefit You

General liability insurance protects a business owner if a legal issue arises. For instance, a cannabis-growing business owner must ensure that their employees are supplied with safe working conditions. The improper use of machinery or exposure to toxic ingredients could cause harm to a worker.

If a worker is ever injured on your property and decides to sue you, the insurance coverage that you have access to will provide protection throughout the legal process. If you lose a legal case, the coverage will satisfy any monetary payments that are owed to the person who initiated a legal case against you.

What Your Agent Will Assist You With

Researching cannabis general liability insurance will provide you with insight into how this type of coverage works. Speaking to an agent, either online or in-person, is a critical step that you should pursue before choosing the amount of coverage that you will purchase. The value of your building or the value of the materials that you are growing and distributing can have a bearing on what type of insurance policy you seek. 

An insurance agent can assist you with remaining compliant. They will discuss your business plan with you and may inquire about how you project your business to be operated in the future. At the end of the consultation, the agent will discuss policy types and provide you with quotes for them.