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Top cannabis businesses we insure
How do I get cannabis business insurance?
It’s easy to get free quotes for cannabis company insurance by filling out our online application with basic facts about your business.
Once you find the right policy, you can begin coverage in less than 24 hours and get proof of insurance online the same day.
Our licensed insurance agents work with top-rated U.S. carriers to find the right insurance program that matches your risks, exposures, and budget. If you have questions, you can contact our dedicated cannabis insurance specialist to get started.
Recommended insurance policies for cannabis businesses
Theft of merchandise or a client slipping on a wet floor could financially devastate a small cannabis business. Swift Insurance helps you find the insurance you need to survive the unexpected and comply with state laws.
General Liability Insurance
Covers bodily injuries, customer property damage, and advertising injuries. Often required for commercial leases.
Best for:
Slip-and-fall accidents
Customer property damage
Libel lawsuits
Professional Liability Insurance
Also called E&O insurance, this covers legal costs for professional errors or missed deadlines.
Best for:
Negligence lawsuits
Project disputes
Work mistakes
Workers' Compensation Insurance
Covers medical expenses for employee injuries and is required in most states.
Best for:
Employee medical costs
Disability benefits
Injury-related lawsuits
Business Owner’s Policy (BOP)
Combines general liability and commercial property insurance for small businesses in one affordable package.
Best for:
Customer injuries
Damaged property
Business interruptions
Cyber Insurance
Helps businesses recover from cyberattacks and data breaches by covering recovery costs and customer notifications.
Best for:
Data breach lawsuits
Customer notifications
Fraud monitoring
Commercial Auto Insurance
Covers vehicle-related accidents and damages. Required for business-owned vehicles in most states.
Best for:
Auto accident lawsuits
Vehicle damage or theft
Vandalism
Protect your cannabis business with insurance coverage
Swift helps a wide range of businesses get the coverage they need from top-rated U.S. insurance carriers. Complete our easy online application to get free insurance quotes.
Our dedicated cannabis insurance agent can help you choose the best cannabis insurance policies that meet the needs of your small business.
You’ll typically be able to get coverage quickly and receive a copy of your insurance certificate on the same day.
Common questions about cannabis insurance policies
What are the insurance requirements for cannabis businesses?
As legalization of cannabis spreads, from recreational use to medical marijuana, each state is establishing its own laws for cannabis insurance.
State laws typically require general liability insurance for all businesses in the cannabis industry, from cultivators to dispensaries. You’ll need to research the laws in your state to find out how much general liability coverage you need.
The specifics of your cannabis operations will determine other types of insurance coverage you need. For example, your landlord may require you to carry several types of liability insurance to sign a lease, including commercial property coverage.
If you run a dispensary, you can complete Insureon’s easy online application to get quotes from top U.S. carriers that meet your insurance needs. For other cannabis businesses, you can call our dedicated agent to find insurance coverage options for your budding business.
What other insurance coverage do cannabis businesses need?
There are several additional insurance solutions cannabis businesses should consider for their unique risk management plan, such as:
Business personal property (BPP) insurance, often included in a commercial property policy, will pay to repair or replace lost, damaged, or stolen business property. It covers items like computers, displays, and cases. When business property and stock is in transit or storage, bailee coverage could fill the care, custody, and control exclusion gap in your policy.
Equipment breakdown coverage protects your company’s computers, electrical systems, production machinery and other equipment from sudden and accidental malfunctions that commercial property insurance typically excludes.
Business income coverage, sometimes called business interruption insurance, offsets lost income if your business is forced to temporarily close due to a covered peril, such as property damage. This policy can help cover normal operating expenses until you can resume business operations.
Product recall insurance, which is not included in a product liability policy, provides strong financial protection for businesses that have to carry out a potentially devastating product recall.
While both product recall insurance and product liability insurance help business owners who are dealing with defective products, each covers a different liability. This coverage isn’t included with general liability insurance, but it can be added as a rider.
In some states, such as Massachusetts and Michigan, cannabis businesses are required to carry product liability insurance.
Management liability insurance is a combination of policies that covers the many business risks faced by senior-level managers, including lawsuits and claims of discrimination, mismanagement, and fraud. These policies include directors and officers (D&O) insurance, employment practices liability insurance (EPLI), and commercial crime insurance.
Cannabis cargo insurance, a type of inland marine insurance, provides coverage for loss or damage to your cannabis products while in transit or stored during transportation. This policy can cover the replacement of cargo, or income for lost non-replaceable cargo, like harvested crops.
Cannabis crop insurance, most often used by cannabis cultivators to protect crops grown indoors or in approved greenhouse facilities, offers coverage for seeds, seedlings, flowering plants, harvested plants, and finished stock.
This policy covers losses due to theft, fire, vandalism, and equipment breakdown related to environment control/monitoring and pumps/compressors.
Finished stock insurance covers any actual cannabis inventory that’s in its final stage ready to be sold. This would protect your business from any lost income should your cannabis inventory be damaged and unable to be sold.
Additionally, a stock throughput policy (STP) can provide coverage for every stage of a cannabis product, not just as finished stock. This includes when seeds are planted, throughout the growth phase, when stored, and while in transit.
It’s best to speak with your dedicated insurance agent to know what policies can meet your insurance needs and budget.