Cultivators Insurance

“We’ve been with Premier Dispensary Insurance since becoming an I-502 Producer/Processor in May 2014, and they have been with us every step along the way. Agent Doug Banfelder and staff are always attentive to our needs, giving us the peace of mind to grow our business without worrying if we have the appropriate level of coverage or are paying too much. We’re glad to have Premier on our team!”

— Adam

Cultivation Insurance

Your business can not afford to be uninsured and risk the potential chance of losing all your inventory, equipment and hard earned money. If you do not have a medical or recreational cannabis cultivators insurance, you need to contact Premier Dispensary Insurance for a FREE QUOTE today.

With our years of insurance experience, Premier Dispensary Insurance can guide you and help you fully understand the cannabis insurance coverage options available for your business.

Your product is so much more than a simple commodity – it is the lifeblood of your business.  We insure crop in all phases of growth, from immature plants, to mothers, to plants in flower and finished stock.

Our crop valuation method is time-tested, developed with grower input over fifteen years ago.

Liability coverage can be extended to outdoor grows.  Indoor and greenhouse grows are insurable for their actual value.

Property coverage can include every piece of the equipment you use to make your garden grow.

Key Coverages:
  • General liability with limits up to $1M per occurrence, $2M aggregate
  • Crop loss resulting from four physical perils: fire, theft, wind and hail
  • Equipment breakdown covering loss of income resulting from malfunction, utility interruption, and more
  • Business personal property such as lights, fans, RO and air filtration systems, security equipment
  • Tenant improvements such as room buildout, HVAC and other electrical upgrades
  • Greenhouses
  • Product liability with limits matching the general liability

Product Liability Insurance

All manufacturers need a product liability policy, as a general liability policy does not protect against lawsuits filed by someone alleging harm from a product sold to them.  Premiums are reasonable, especially considering the alternative: finding an attorney, paying their retainer and then watching the meter run.  A better way to manage this risk is to have a product liability policy providing you with the carrier’s “duty to defend”.  Given the carrier’s desire not to be found liable, a policyholder can count on a vigorous defense.

The law assumes “strict liability” for the entire chain of distribution, from the maker, to the test lab, to the retailer.  And as we have seen, it is easy for people, especially naïve users, to over-consume edibles, which can easily give rise to a claim.

And while it may be true that “cannabis never killed anyone”, that doesn’t prevent people from filing suit alleging harm, in which case all parties named in the legal action will have to appear in court.

We understand that these are uncomfortable considerations, but it’s our responsibility to inform our clients so they know how to manage these risks and avoid a catastrophic loss to their business.

Key Coverage:
  • Liability limits of $1M per occurrence, $2M aggregate
  • Securing the carrier’s “Duty to Defend”
  • Defense costs outside the limit (thus preserving the full $1/2M limits for any judgements against you)

Need Cultivators Insurance?

Cultivators Insurance June 18, 2015

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Contact Us

(855) 507-2622

963-I Industrial Road
San Carlos, CA 94070

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