The cannabis market in the United States has been expanding for more than a decade, and the rate of growth is accelerating as more and more states see mounting evidence of the medicinal effectiveness of cannabis, its safety, and its potential to generate tax revenue. One challenge in newly established markets is finding the right support systems to manage your business, from banking to insurance. Luckily, there are a few very reliable cannabis insurance programs expanding beyond their original territories and into newly legalized recreational markets in many states.
The Benefits of Industry-Specific Expertise
When you work with cannabis insurance programs instead of more general business insurance providers, you gain the benefit of their focus on your industry. That benefit is a deeper insight into your business model and the business models of other players in the cannabis industry, which also lets them see where you incur risks together, providing appropriate and well-rounded coverage to all the industry’s players. This means coverage with fewer gaps and exclusions, less chance of having to over-purchase a plan to get the coverage you need in any one area, and help to decide on the right coverage changes as your operation expands and you add more services, locations, or employees. In the end, this doesn’t just save you money on one policy, it helps you buy smarter insurance every time you renew.