Cannabis Insurance
Product Liability insurance for cannabis businesses
Failure to include product liability coverage in your dispensary insurance cost could result in expensive (and potentially disastrous) lawsuits, particularly as the legal cannabis industry grows and expands.
Many types of cannabis businesses sell products. But since the cannabis industry is not yet federally regulated, significant financial risks are associated with the sale of cannabis products. Each state comes up with its own guidelines and regulations. However, in all cases, cannabusiness owners still assume the risk and responsibility if their product results in bodily injury.
Which Types of Cannabusinesses Should Have Product Liability Insurance??
Every single business involved in the sale of cannabis products should have product liability coverage. This includes cannabis manufacturers, wholesalers, retailers, and distributors.
However, if you own a dispensary, product liability insurance is crucial. Failure to include product liability coverage in your dispensary insurance cost could result in costly—and even financially devastating— lawsuits.
What Does Cannabis Product Liability Insurance Cover?
Product liability insurance will protect your business if a product you sell malfunctions, is recalled, or causes physical injury or illness. Some examples of product liability claims in the cannabis industry include:
Exploding weed vaporizers
Edibles that give customers food poisoning
CBD oil recalls due to high levels of pesticides
Contaminated cannabis flower
A cannabis product labeled with the incorrect amount of THC
Cannabis products that lack proper warnings and instructions on the label
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