If you are running a marijuana business, then you must understand the different types of marijuana business insurance plans that is available for you. Marijuana business insurance is nothing like insurance for any other type of regular business. Instead of getting an all-inclusive coverage, marijuana businesses can obtain insurance that cover separate aspects of their business. The first type of insurance that is available for marijuana businesses is a general liability insurance. Under this insurance coverage, you can recover losses for any damages that you may be held accountable for. For example, if you have a marijuana dispensary and someone slips and injures himself within your premises, then the general liability insurance will cover the patient’s medical costs. Even if the patient decides to file a compensation claim and wins the claim, it is the insurance company that will be liable to bear the costs.
When you speak with an experienced insurance agent, you will be able to find out how much general liability insurance will cost for your business. Usually, it is recommended that owners carry a limit of up to $2 million. But, it is essential to consult with a professional to understand what amount will be best for your business.
If you are wondering how to open a medical cannabis business, then take our cannabis business workshop at California college for cannabis, in San Diego, Pasadena and Sacramento; Our attorneys and industry leading network of professionals will be hosting a to go over all aspects of cannabis business licensing, start-up and operation.
At 420 College – it all begins with helping YOU to understand what is proper, lawful and appropriate!
Our hands on medical cannabis business start-up seminars or one-on-one consultations are perfect way to get started!
You get an intense 2 days of advanced information about how to start and operate a medical cannabis business in California. Find out how 420 College 2 DAY seminars can help you in your business, click here.