Since 2008, medical marijuana has been legal in Michigan. Though the state has experienced its fair share of tumult over the past decade, marijuana has withstood all of the opposition's efforts and looks poised to continue to grow in the Wolverine state.
One of the first things that new entrants into the marijuana industry find out is that they need specific Michigan marijuana insurance. Marijuana or cannabis insurance is necessary because many traditional insurance policies and packages do not cover activities related to the production, manufacture and sale of marijuana. Marijuana-related businesses cannot function properly or responsibly without marijuana business insurance. Our firm offers several different types of marijuana industry insurance -- browse through our options below to find which is best for you and your business.
Insurance for Cannabis Infused Product Manufacturers
Marijuana infused products, including edibles, oils, waxes and tinctures, are a major part of the booming market for pot. Most normal policies won't cover non-FDA approved activities and products, so manufacturers face a huge risk if something goes wrong with their product. Policies often cover liability insurance for marijuana, safeguarding your business against accidental damage and catastrophe.
Insurance for Medical Marijuana Dispensaries
Owners of dispensaries have all sorts of liability to worry about. Our dispensary packages cover everything from general liability and product liability to property, medicine and business income. Medicine coverage is typically for insuring your product or inventory against damage, while property protection ensures that damage to your furniture, equipment or fixtures won't cost you anything. We try to make our Michigan medical marijuana insurance policies as comprehensive as possible, so no unforeseen event can cripple a business.
Insurance for Marijuana Growers
Marijuana cultivation is a very risky business: one mistake or accident could ruin your entire crop, and therefore your entire payday. Out of each type of cannabis business insurance, plant and growers insurance is likely the most necessary. In addition to product liability and business income, marijuana growers insurance often protects against fire, smoke, theft, vandalism, explosion and leakage.
Insurance for Landlords Who Rent to Marijuana Related Businesses
"Marijuana landlords" need protection too, particularly because standard insurance companies will often refuse to cover buildings used for marijuana business purposes or cancel policies that landlords held previously. Marijuana Landlords for buildings ranging from industrial properties, warehouses, farm properties and greenhouses can get coverage through our specialized policies that allow them to rent to cannabis companies worry-free.
Insurance for Marijuana Transporters
One of the most interesting areas of marijuana commercial insurance is the insurance for transporters of marijuana products. Most marijuana companies are turning to secure transportation companies in order to combat theft and en route accidents, but these transportation companies need specialized insurance to protect themselves and their marijuana products. Even companies that only have a tangential connection to the marijuana industry need to ensure that their operations are fully covered.
If you're curious about getting insurance in any of the above areas, contact us to receive a quote or learn more about your various marijuana insurance options.
