What is Cannabis Insurance?
The legalization of medical and recreational marijuana has given rise to a new industry in Massachusetts. Businesses that have entered this space face unique needs that non-specialized insurance policies may not offer. Cannabis insurance is a specialized commercial insurance designed for businesses in this industry.
Businesses in the cannabis industry face multiple risks, including both property and liability perils. Cannabis insurance policies usually bundle coverages together, so they can protect businesses from many of the risks that they face.
What Massachusetts Businesses is Marijuana Dispensary Insurance Right For?
In general, most dispensaries located in Massachusetts ought to have marijuana dispensary insurance. Other businesses that produce, sell or otherwise handle marijuana products might also need this form of insurance. An insurance agent who specializes in cannabis policies can help other businesses determine whether this or another policy option is best for their situation.