Marijuana starts with the manufacture of leaves, which are harvested and thoroughly cleaned and cured. They are then left to dry before any agents are added. Processing of the leaves can produce either oils, powder, or vapor for consumption.

Marijuana is used in the production of beauty skincare creams and lotions. It is used in chocolate, beverages, and candies. In some states recreational use of Marijuana is permitted. The marijuana business is lucrative and exponentially growing across the globe.

Marijuana products manufacturer insurance protects your business from lawsuits.

Cost of Marijuana Products Manufacturer Insurance

An average price for general liability insurance for a small marijuana product manufacturer insurance depends on the location of the business, the size, the number of employees, sales, claims history, etc.

Why Marijuana Products Manufacturers need Insurance

Production of marijuana, like any business, faces certain risks and is prone to damages. Manufacturing marijuana is exposed to theft, vandalism, natural disasters, and breakdown of equipment hazards.

Physical damage and injury can lead to a costly lawsuit from consumers or your employees.

Because marijuana is unapproved, getting the right insurance can be challenging.

Types of Insurance for Marijuana Products Manufacturer

Commercial General Liability

The policy protects your business from third-party injury on your property. For example a customer can slip and fall while at your property during business. The policy covers medical bills and legal fees.

Commercial Property

It is basic level insurance for your business, and it protects you from financial losses caused by fire, theft, or vandalism. Additionally, it covers the contents inside your building, for example, the machinery and tools used in manufacture.

Workers Compensation

If one of your workers sustains a work-related injury, the policy covers the medical care and the wages the worker will lose while undergoing treatment.

Marijuana Product Liability

Specific insurers offer this type of insurance as it is not common. The policy provides financial protection for both raw materials and finished products arising from damage or theft.

Equipment Breakdown

During manufacturing, equipment breakdown is unavoidable. It can cause massive financial losses for your business. The coverage offers financial assistance to repair or replace the equipment as well as damage to the property.

Loss of Income

Your business could come to a sudden stop. The policy will cover the income lost during this period.