Many people have the misconception that obtaining dispensary insurance is very costly. Since it requires a large amount of money to open a marijuana business, people think that obtaining insurance for their marijuana business is also expensive. But they don’t realize that today there is huge competition in the market and every day new carriers and brokers are established to provide marijuana business owners the much needed insurance coverage.
Dispensary insurance these days is reasonably priced and apart from obtaining general liability insurance coverage, you can also get coverage for your assets including furniture, fixtures, inventory and equipment as well. Basically, you can get comprehensive dispensary insurance if you choose the right insurance company or broker.
Having proper dispensary business insurance is important for any business owner as this will help their business thrive. In case of any unfortunate events or calamity, the insurance coverage will provide protection against losses and damages caused. As a business owner, you will not have to pay for anything directly from your pocket. It will be your insurance company that will have to pay for the losses. For example, if a customer is injured as a result of using your product and files for a compensation claim, then the settlement will be paid by the insurance company and not you directly.