What is Cannabis Insurance?
The legalization of medical and adult-use cannabis in Vermont has given rise to a whole new industry, and it’s an industry that presents opportunities but also risks. For businesses that get into the cannabis industry, cannabis insurance can play a vital role in guarding against a range of potential risks that come with operating in this space.
Cannabis insurance is a specialized commercial insurance that’s designed for businesses in the cannabis industry. Because these businesses commonly face multiple risks, most cannabis policies are underwritten as package policies that combine several coverages together.
Although more insurers are offering insurance for cannabis-related businesses, this remains a relatively new insurance. Not all policies come with the same protection. To make sure they fully understand the coverage options that are available in different policies, businesses should work closely with an insurance agent who specializes in this commercial insurance when comparing quotes.
What Vermont Businesses Should Have Marijuana Dispensary Insurance?
Most marijuana dispensaries and other cannabis businesses in Vermont ought to some form of cannabis policy. These businesses face substantial risks, and marijuana dispensary insurance is normally the most suitable policy type for these businesses.