One of the requirements when purchasing cannabis business insurance is your agreement to allow the insurance company to perform what’s called a loss control inspection. The purpose of a cannabis loss control inspection is to help the insurance company know what they’re covering, but also to help you, the policyholder, with safety measures to help you run your business as efficiently as possible by either preventing losses from occurring or reducing the severity of the ones that might occur.
Once the loss control inspection is completed you’ll receive recommendations from the insurance carrier of what changes need to be made to.
The following is a checklist is to aid you to some of the items the loss control consultant will be checking for.
Is your street address number / suite number plainly visible and legible from the street? Each locality has an ordinance with requirements for how street addresses need to be posted. For example, street numbers should be a minimum of 12 inches in height, and the suite number, if applicable, should be not less than 6 inches in height. The numbers shall be in a contrasting color with it’s’ background and on the outermost surface of the building.
Emergency Lights / Exit Signs:
Means of Egress and Fire Separations:
Portable Fire Extinguishers:
Sprinkler / Fire Suppression Systems:
Fire Alarm System:
Reach out to me when you’re considering cannabis business insurance. I will discuss coverage’s with you, how each coverage works and assess how it fits into your risk management needs. I will provide you with comparative cannabis business insurance quotes from multiple insurance carriers so you can get the best possible rate.
As an insurance broker I help cannabis businesses manage risk through insurance. I'm available to discuss my experience or any questions you may have.
The information in this blog is accurate to the best of my knowledge. This blog is not a substitute for consultation with a licensed insurance broker to address the particular facts and circumstances of your individual risks.