5 Takeaways That I Learned About
A company or individual who is in cannabis business needs insurance. There are many types of cannabis insurance hence ask insurance experts to help you choose the right ones. Compare the terms and policies and the costs of these cannabis insurances to find the appropriate insurer. These are the types of cannabis insurance for marijuana businesses.
As a marijuana business owner, buy commercial general liability insurance because it covers against general risks that can affect business regardless of the industry. These risks include damage to property, employees injuries and more.
Vehicle insurance covers the transporters from accidents and physical injuries. This insurance will pay the medical expenses of the casualties. The repairs of the trucks, cars, and motorcycles, whichever your company uses are also covered by this insurance. This insurance replaces stolen trucks, cars, and motorcycles.
Find workers compensation insurance since it protects the employer when an employee gets into an accident in the workplace. The employer will spend a lot of money on medical expenses when an employee gets injured depending on the policies of the company. Most companies hire independent contractors to run away from these costs, but there will be an investigation to prove that the person fits that category. You need to have a workers compensation insurance for it will take care of these expenses on behalf of the company help you cut on unplanned expenses. Hiring independent contractors can be cost-effective, but you will not be able to control some of their activities hence get a workers compensation insurance for your employees instead.
The cargo can get lost or destroyed when it is being transported hence get a cargo coverage insurance. Do not buy this insurance if you are transporting small quantities if marijuana because that is not necessary.
Protect your tools and machineries like computers from damages and theft by acquiring equipment insurance. The insurance will pay for replacement or repairs of the tools and machinery.
Companies or individuals who are marijuana farmers need crop insurance. You get financial help if the crop is damaged by factors like diseases, pests, floods, drought and more. Farming is risky because you will not have control over most of the factors that may lower the quality or quantity of your harvest hence you need crop insurance to take care of the losses.
When you have a company property, you need to protect the asset and the things inside from theft, natural calamities, fire and so on. Your company will get so many losses of your property gets damaged.