​Cannabis Umbrella Liability Insurance is cannabis insurance coverage that's designed to kick in and provide an additional layer of liability protection should a lawsuit or major accident exceed the limits of your existing, or underlying policies which include:
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Providing Cannabis Umbrella Liability Insurance for the cannabis supply chain:

Cultivation – Indoor, Greenhouse & Outdoor
Third-Party Processors & Harvesters
Infused Product Manufacturers
​Laboratories & Testing
Wholesalers & Distributors
Manufacturers of Goods and Equipment​
Dispensaries & Retail Operations
Transportation & Delivery
Landlords

Do you need Cannabis Umbrella Liability Insurance?

There’s no immediate answer to address how much Cannabis Umbrella Liability Insurance your business might need. You need to consider the following rules of risk management which are:

  1. Don't risk more than you can afford to lose. This is a measure of severity. If the maximum possible loss could not be paid out of your existing finances without necessitating borrowing or if such a loss might lead to bankruptcy then Umbrella insurance must be considered.
  2. Consider the odds. What’s the probability that a loss will occur?
  3. Don't risk a lot for a little. After weighing the cost of insurance compared to the potential out-of-pocket expense. Don't self-insure a loss that could be transferred to the insurance carrier for a known, relatively small amount of premium.

The following are examples of situations where Cannabis Umbrella Liability Insurance can safeguard your business:

  • Accidental slips or falls on your property
  • A carbon monoxide leak in your building
  • Libel, slander, or invasion of privacy
  • If one of your products causes injury or illness
  • If a fire in your building damages other property
  • If your business vehicle is involved in an accident

An Umbrella policy is an inexpensive way to provide protection for the unexpected. It’s another layer of insurance coverage when you need it.

Reach out to me when you’re considering cannabis business insurance. I will discuss with you cannabis umbrella liability insurance, how it works and assess if it fits into your risk management needs. If you determine this coverage is needed I will then provide you with comparative Cannabis Umbrella Liability Insurance quotes from multiple insurance carriers so you can get the best possible rate.
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As an insurance broker I help cannabis businesses manage risk through insurance.