Dispensary Insurance

Our Cannabis Practice

Our team is personally embedded in the cannabis industry, from growth to operations. We’ve experienced firsthand the frustrations that dispensaries face (multiple applications, a far-too-long response process, and inexperienced agents, to name a few). There had to be a better way, so we set out to create better insurance.

We asked you, the business owners and operators, about your pain points and priorities. Listened to business demands and studied the unique space. Lived in it ourselves. What we created is a holistic and best-in-class coverage program that reflects the needs of dispensaries. Whether you’re a new venture or existing dispensary tired of headaches, we’ve designed insurance that works for you, not against you. With one, and only one, application, you get:

• Comprehensive policies
• Quick turnaround for quotes
• Compliance in your state
• Dedicated team of industry experts

What Is Dispensary Insurance?

Embroker’s commercial dispensary insurance is a package of business insurance policies designed to protect dispensaries from risks associated with their operations. It is a holistic way to keep your dispensary from internal and external risks. These risks can include everything from product liability to property damage. There are many reasons you might need dispensary insurance. For one, it can help you comply with state and local regulations. In some states, for example, dispensaries are required to carry liability insurance. Additionally, dispensary insurance can help protect your business from financial losses that could occur as a result of risks like product liability or property damage.

Who Is Dispensary Insurance For?

Dispensary insurance is for any business that sells or dispenses cannabis products. This includes medical and recreational dispensaries and other businesses that sell to cannabis users. If you operate a dispensary, it’s important to understand the risks associated with your business and have the appropriate insurance in place to protect yourself from those risks. As you grow your operation, Embroker’s dispensary insurance helps you:

• Get compliant in every legalized state
• Mitigate risks
• Expand your business

Any seller of cannabis needs insurance, including:

Medical Dispensaries

Medical dispensaries are businesses that sell cannabis products to patients who have been prescribed them by a doctor. Medical dispensaries must comply with state and local laws, which can vary from place to place. In some states, for example, medical dispensaries are required to have a license in order to operate. Additionally, medical dispensaries typically only sell cannabis products to patients who have a valid prescription from a doctor.

Recreational Dispensaries

Recreational dispensaries are businesses that sell cannabis products to anyone over the age of 21. Recreational dispensaries must also comply with state and local laws, which can vary depending on the location. In some states, recreational dispensaries are required to have a license in order to operate. Unlike medical dispensaries, recreational dispensaries can sell cannabis products to anyone over the age of 21, regardless of whether or not they have a medical prescription.

Why Do You Need Dispensary Insurance?

There are many reasons to have dispensary insurance. First and foremost, it can help you comply with state and local laws. In some states, dispensaries are required to carry liability insurance. Additionally, dispensary insurance can help protect your business from financial losses that could occur as a result of risks like product liability or property damage. If someone were to sue your dispensary over a defective product, for example, your insurance would pay for your legal expenses.

What Does Dispensary Insurance Cover?

Protecting your dispensary from the major areas of risk should be your first concern when setting up dispensary insurance, and holistic coverage will do just that for you. Here’s a look at a few of the most important types of policies to have:

General Liability Insurance for Dispensaries

General liability dispensary insurance protects your business against claims of property damage or personal injury that occur on your premises. For example, if a customer slips and falls in your dispensary, general liability insurance could help cover the costs incurred.

Product Liability Insurance for Dispensaries

This type of insurance protects your dispensary in the event that someone is injured or becomes ill as a result of using one of your products. If you sell THC-infused edibles, for example, product liability insurance could cover you in the event that there is an issue with your product.

Property Liability Insurance for Dispensaries

Property liability protects your dispensary against claims of damage to your property, such as fire, theft, or vandalism. If your dispensary is broken into and vandalized, for example, property liability insurance could help cover the cost of repairing the damage.

Dispensary Insurance Requirements: How to Qualify

If you want to get dispensary insurance, there are a few things you’ll need to do. First, you’ll need to have a business license. You’ll also need to be in compliance with all state and local laws, including any regulations regarding the sale of cannabis products. The amount of coverage you’ll need will vary depending on the size and scope of your business. Once you have all of the necessary documentation, you can apply for coverage. Partnering with Embroker means you’ll be able to:

• Apply online
• Submit one application for a customized quote
• Receive holistic coverage across your business

What Does Dispensary Insurance Cost?

The cost of dispensary insurance will vary depending on the type and size of your business, as well as the coverage you require. Policies can range in cost, so it’s important to get quotes and research the policies you need to get the right range of coverage for your dispensary needs.

Embroker offers comprehensive dispensary insurance policies that are designed to meet the unique needs of your business. We partner with leading insurers in the cannabis industry, which allows us to offer our clients the best coverage at the most competitive rates. In addition, our team of insurance experts is here to help you every step of the way, from finding the right policy for your business to filing a claim. Contact us today to learn more about our dispensary insurance solutions.