Medical Marijuana Shops & Clinics Insurance

Medical marijuana shops and clinics are fairly new businesses that aren’t even in all parts of the country yet. They serve a very important purpose and service to their clients however. As the owner of a medical marijuana shop and clinic, you have additional regulations and legal issues to deal with in addition to the daily responsibilities and duties all businesses have. Protect your investment and all of the hard work you’ve invested by making sure you have the right types of small business insurance.

General Liability

Property Coverage

Workers Compensation

General Liability Insurance For Marijuana Clinics

General liability is an all-around broad level of business insurance that covers a wide variety of potential risks and hazards. It protects your shop and clinic from suffering severe financial setbacks when customers are injured or make legal allegations against your company for accidents and mistakes. General liability expands its protection automatically when you add new locations, products or services. Several key areas of protection in general liability coverage includes:

General Liability Insurance Includes:

Premises Liability – Premises liability is the section of your general liability insurance that helps protect your company from suffering severe financial losses when accidents happen. If, for example, a customer or visitor comes into your medical marijuana shop and slips on a wet, recently mopped floor, they may suffer physical injuries from that accident. Premises liability pays for the medical bills that arise from the customer getting treatment, so they will not sue your company for the costs instead.
Products Liability – Some of the products that you sell may cause problems or bring harm to your customers. If, for example, your shop sells lighters and one brand is found to be prone to explosion due to manufacturing defects, your customers may sue your shop for the injuries or damages caused. Products liability insurance protects your medical marijuana shop or clinic by paying for the damages and injuries that are caused due to covered products. It can also pay for your legal defense costs in addition to other settlements or awards.
Completed Operations – Completed operations insurance protects you from lawsuits that arise due to services you have rendered. If a customer sues you for harm or damages that they claim were caused by the services you provided, your completed operations can help protect you from the losses. Completed operations insurance pays for your litigation expenses, plus any damages, settlements or related awards.

Business Owners Policy For Marijuana Clinics

Your company will automatically be covered by general liability when you setup a BOP, or Business Owners Policy. This insurance is ideal for small businesses because it specifically protects your assets. And it can be tailored to fit your specific business’s needs. BOP insurance protects you from loss of either intangible or tangible assets, such as:

Buildings and Contents
Business Income and Extra Expense
Electronic Data
Newly Acquired or Constructed Buildings
Employee Dishonesty Coverage

Business Auto Insurance For Marijuana Clinics

Business auto insurance is important commercial coverage for your company. Without it, your company may suffer large financial setbacks when auto accidents occur. If you or an employee causes physical harm, or damages the property of others, this coverage can absorb most of the resulting expenses. It can also pay for damages or replacements if your vehicles are stolen, vandalized or otherwise harmed.

Workers Comp Insurance For Marijuana Clinics

Workers comp insurance is a mandatory coverage by law in most states. This insurance protects your employees if they are injured on the job. It pays for their medical bills and related recovery expenses that arise as a result of the accident.

Commercial Umbrella Insurance For Marijuana Clinics

A Commercial umbrella insurance policy gives your company extra levels of protection. When your other commercial policies reach their maximum benefit payment limits I this one takes care of the additional expenses.