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Why You Need Cannabis Insurance Coverage

Updated on August 3, 2016

You may ask, is it necessary to pay for insurance for my medical marijuana dispensary? It is necessary as cannabis insurance coverage provides protection for medical marijuana users and dispensary. Medical marijuana dispensary insurance is a category of cannabis Insurance. If something happens to your dispensaries such as theft or fire, you have to pick things back up and start your business; medical marijuana insurance will work to your benefit.

Medical Marijuana Dispensary Insurance

Many people feel medical marijuana dispensary coverage is unattainable and very expensive, which is a common misconception. Medical marijuana insurance is very well priced. It provides general liability, property coverage for furniture, inventory, and equipment and tenant improvements. These provisions will help your dispensary business stay on its feet, in times of calamity.

Benefits of Medical Marijuana Dispensary Coverage

Medical marijuana dispensary insurance benefits include;
• Protection from lawsuits
• Compensation for business losses
• Quicker way to restart business after misfortune

Below are the types of protection provided by medical marijuana dispensary insurance.

General Liability

Medical marijuana dispensary insurance provides you with general liability insurance protection which will help protect your business inclusively. This includes injuries and damages.

Property Protection

This plan provides protection for your business property. Property protection helps restore your businesses furniture, fixtures, inventory, equipment and tenant improvements, etc. Buying a medical marijuana dispensary insurance coverage will help you restart dispensary business much easier and quicker in the event of damage to property.

Stock Coverage

This insurance plan can provide coverage for your dispensary business inventory against risks like fire and theft. It also provides insurance coverage for your product while it is in transit from the cultivation facility to your cannabis dispensary.

Business Income Insurance

With a medical marijuana dispensary coverage, you will have insurance for your business income and extra expenses in the event of a disaster. Business income insurance covers the income or revenue that you would have earned, based on financial records, had a disaster not occurred. This insurance policy also covers other operating costs that continue running even though your business activities have stopped temporarily.

Product Liability

Product liability insurance is a category of medical marijuana dispensary insurance that provides coverage for marijuana that is used for medical purposes, smoking devices, vaporizing tools, and dispensaries. It covers a seller or manufacturer's liability for injuries or losses suffered by a user, buyer, or bystander as a result of a malfunction or defect of the product, or in some cases a failure to warn users.


Medical marijuana dispensary insurance coverage is a category of cannabis insurance that will also provide protection for your business against being sued by patients who have suffered unintended side effects from the use medical marijuana. This insurance policy provides coverage for the cost of hiring a lawyer to stand on your defense should such a situation arise. Purchasing this insurance plan will provide coverage for any potential indemnity payment and the cost defending the lawsuit.


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