What Kinds of Insurance Do Cannabis Companies Need?

The cannabis industry is very diverse, so there are a lot of individual insurance options that are only needed by specific businesses. For example, a transportation company specializing in delivery from the manufacturer to the retail dispensary will need commercial vehicle coverages that most retail operations just don’t have to carry. Similarly, growers and other manufacturers need specific agricultural and food manufacturing insurance options that they share with businesses that have similar operations in non-cannabis industries like snack foods. They do have some common coverage options they share, though.

Understanding the Needs of Cannabis Businesses

General liability and public liability policies look a little different for some cannabis businesses than they do for many other operations, in part because many businesses in this sector need additional coverage related to the industry’s access to financial resources and the risk of interference with the operation by federal officials or other sources. They also sometimes need additional coverage against crime and employee theft that are uncommon in related industries that work with less restricted substances. The best way to make sure you have the right mix of cannabis industry insurance options is to work with a provider who can build a custom policy around the needs of your company. That gives you exactly the right insurance, no matter what part of the cannabis industry you participate in.

Extracted Cannabis

Marijuana and cannabis are now legally available in more than half of the states in the country. Cannabis is even more readily available because of its highly touted medical benefits. Although there are several ways to glean its beneficial effects a lot of people prefer high-quality oil.

What is Cannabis Oil?

Cannabis oil is extracted from cannabis plants, which are commonly referred to as marijuana or hemp plants. These plants have gained their historic notoriety primarily for being smoked, but oil can be extracted from these same plants and turned into highly potent medicinal liquid. Oil is much more concentrated than flowers and is known to have over 100 active ingredients.

Benefits of Oil

Cannabis oil can be applied directly to the skin and is absorbed more quickly than most other forms of marijuana. It is often manufactured into a salve which is more convenient and transportable than oil. You can find these products at several retailers, such as King Harvest. These oils have been credited for helping with several ailments, including but not limited to:


Are There Psychoactive Side Effects?

THC, or tetrahydrocannabinol, is completely different than cannabis, no matter what form it’s in. THC what is known to produce psychoactive side effects. Cannabis does not make you high.