Cannabis Insurance
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Cannabis Crop and Cultivators Insurance
Medical marijuana crop insurance coverage for small, medium and enterprise-level cultivation operations, including greenhouses and nurseries:
- General Liability Coverage
- Workers Compensation
- Buildings/Equipment/Crops
- Transit/Delivery Coverage
- Theft/Fire/Vandalism
- Wind/Hail/Falling Objects
- Other Standard Perils
- Finished Stock/Marijuana
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Dispensary, Cooperative, Caregiver & Collective Insurance
MMD Insurance offers a range of insurance options for dispensaries, collectives, cooperatives and caregivers including:
- General Liability Coverage
- Property Insurance
- Commercial Vehicle Coverage
- Workers’ Compensation
- Payroll Services
- Financing Available.
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Medical Marijuana Professional Liability Coverage
Protects the insured against claims made by clients for potential negligence or failing to adequately perform contracted professional services.
Sometimes referred to as Professional Liability/Errors & Omissions or Professional Indemnity Insurance, this coverage is typically excluded from a general liability or business owners policy.
Provides protection for attorneys and legal professionals working specifically in the medical cannabis industry.
Product Manufacturers and Cannabis Vendors
Cannabis product developers and commercial kitchens face challenges unique to the cannabis industry. From product liability to stock coverages, MMD Insurance understands the intricacies and details of running and insuring a cannabis business.
- Equipment Breakdown
- Stock Spoilage
- Business Property
- Finished Stock, Marijuana Theft and Fire
- In-Transit/Cargo Coverage
- Product Liability Coverage
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Commercial Auto and Marijuana Delivery
The transport and delivery of medical marijuana stock and related products poses challenges unique to the Cannabis Industry. Don't risk your inventory with inadequate auto coverage. MMD Insurance has designed commercial auto coverages specifically for medical cannabis businesses.
- Limits $15/30 to $1 Million – CSL
- In-Transit/Cargo
- $100-$10,000 Product/Money
- Hired and Non-Owned
- Workers Compensation
- Finished Stock/Marijuana
- Employee Dishonesty
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State Raids and Legal Defense Insurance
Legal Defense Costs Reimbursement applies to arrest or charges brought against the insured by a Governmental Authority arising from the possession, transportation, cultivation or distribution of medical marijuana or marijuana derivatives and for which the insured pleads not guilty and believes they have a legal right to do so under state and local guidelines. The insurer becomes liable to pay incurred fees no sooner than 60 days after the earliest of the following:
- Insured pleads "not guilty" to all charges
- The charges are dismissed
- Insured is found not guilty of all charges
The maximum limit to liability under the Governmental Action Reimbursement Endorsement is $5,000 per occurrence and $10,000 aggregate.
Medical Marijuana Property and General Liability Insurance
MMD Insurance provides comprehensive insurance coverage options for business operating in the medical cannabis industry. Protect your investments with a business insurance program uniquely designed for your industry and your business needs.
- Cannabis Workers' Compensation
- Equipment Breakdown
- Business Property
- Loss of Income
- Money and Securities
- Employee Dishonesty
- Glass Coverage
- Tenant Improvements
- Computer Equipment
- Get A Quote Now »
News by State
Statewide Insurance Offers Different Approach to Medical Marijuana Business Insurance: 420 Drug War News Interview
Mike Aberle, Director of Statewide Insurance Services Medical Marijuana Specialty Division is featured on the Drug Truth Network’s 420 Drug War News, talking about a new approach to insurance services for the medical marijuana community.
During a brief audio interview, Mike was asked to summary Statewide Insurance Services product offerings specifically designed to meet the current and changing needs of the medical cannabis community. Mike began his discussion with the philosophy set forth several years ago when Statewide realized there was a pressing need for comprehensive business insurance coverage for medical marijuana dispensaries, collectives, cooperatives and growers. This “different approach” as Aberle calls it, works to educate growers, dispensary operators and insurance carriers of the needs and changes in the cannabis industry.
Through the efforts of Statewide Insurance Services, the face of the medical marijuana community has been changed, and legitimacy continues to increase. Aberle and Statewide Insurance began, according to the interview, enhancements to cannabis coverages for dispensaries, including equipment coverage and employee dishonesty coverage.
The big changes in the medical marijuana industry, according to Aberle, are in the marijuana growers program. Aberle noted trends with growers and with dispensaries beginning their own cultivation programs and decided, unequivocally, that this area of the cannabis industry needed some changes, that this end of the business, the pot production, needed some insurance focus. Statewide Insurance Services, Inc., began offering insurance coverage for marijuana growers in December of 2009, with considerable success.
Statewide Insurance, the interview continues, has even started providing insurance for special marijuana-related events, providing the first ever insurance coverage for a “smokable” event, the International Cannabis and Hemp Expo at the Cow Palace in San Francisco. This smokable event, where qualified patients could medicate on site, was such a huge success – with the help of this special event insurance – that event promoters hope to return to the area in September of 2010.
Other issues, according to Aberle’s summary, involved workers compensation insurance for bud tenders and growers in the medical cannabis industry. As of early 2010, Statewide Insurance offers comprehensive coverage for growers including coverage for bud tenders and other employees involved in the cultivation, distribution, handling and preparation of medical marijuana.
With continued coverage, including operations and health hazard coverages, marijuana dispensaries, cultivators and other medical cannabis providers can operate their businesses with increasing legitimacy, protection and peace of mind. To further advance coverage, health hazard coverage may even protect medical marijuana patients who chance to fall ill as a result of consuming a product produced by insured growers.
Listen to the full recording of the 420 Drug News interview with Mike Aberle of Statewide Insurance Services.
For free quotes or information on Medical Marijuana Insurance Coverage contact Mike Aberle at the Statewide Insurance Services, Medical Marijuana Specialty Division.