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Get Your Cannabis Insurance Quote Online

Cannabis Insurance

Cannabis insurance is a niche type of insurance product meant for businesses that operate in the legal cannabis growth and sales space. There is no industry that is growing faster than the Canadian cannabis industry, and with our strong connections to specialty insurers, we are always here to make your insurance buying process simple for your cannabis business.

We are one of the few insurance brokerages in Canada that truly specializes in cannabis insurance. Guild/HMS Insurance works closely with a number of cannabis insurance providers in Canada to find the best coverage for your unique cannabis business to protect you from seed to sale.

What Does Cannabis Insurance Protect?

Being in the cannabis industry brings an opportunity to grow and earn more money. However, every new growing business brings on a new set of risks. You and your team are the ones taking on these risks.

This means a standard commercial insurance policy won’t provide you with the right protection. Instead, your insurance policy needs to be your own. You need to protect your property, your product, your stock, your equipment, your employees, your materials, and yourself. A cannabis insurance policy fits the bill.

Who Needs Cannabis Insurance?

As a business owner operating in the cannabis industry, you should plan to have a specialized insurance policy. Most of the coverage types discussed above are designed to cover your unique risks that you and your business take on daily. Failing to have any of these coverage types could be catastrophic to your business.

Theft of your product, damage to your property, or injury to a bystander could happen at anytime in the cannabis industry. Any of these incidents could bankrupt your business if were without proper cannabis insurance policy.

Typically, a cannabis insurance policy will include the following types of coverage:

Typically, a cannabis insurance policy will include the following types of coverage:

Commercial General Liability - learn more

A Cannabis Insurance Commercial General Liability policy has been designed to meet the needs of the hemp and cannabis industry.

Approved Classifications:

      • Manufacturers
      • Retail/Dispensaries
      • Wholesale/Distributors
      • Cultivation (Indoor, Outdoor and Greenhouses)
      • Management Offices
      • Property Managers
      • Garden / Hydroponics stores
      • 3rd Party Processors/Harvesters

Coverage Options:

      • Up to $15 Million

Deductible Options:

      • Up to $100,000

Endorement Options:

      • Hired and Non Owned Auto $100,000
      • Removal of Spores and Fungi Exclusion
      • US Vendor Endorsement
What's Included in Commercial Property Coverage?

A Cannabis Insurance Commercial Property policy has been designed to meet the needs of the hemp and cannabis industry.

Approved Classifications:

      • Indoor/Outdoor Growers
      • Analytical Operations, Assaying
      • Drug, Medicine or Pharmaceutical Prep Compounding
      • Security (unarmed)
      • Store Wholesale NOC
      • Store Retail NOC/Delivery
      • Salesperson Outside
      • Clerical Office

Coverage Highlights:

      • Named Peril forms
      • Property limits up to $70,000,000
        • No sub-limit for cannabis or hemp inventory
      • No Maximum number of locations – add as many locations as you need with no restrictions
      • Ability to lead and follow on a Subscription basis
      • Business Interruption
      • Motor Truck Cargo
      • Equipment Breakdown
        • Follow form on Property schedule
      • Crime limits up to $100,000
        • Includes Social engineering

Deductible Options:

      • Up to $100,000

Endorsement Options:

      • Premium Property Extension
        • Accounts Receivable
        • Employee Dishonesty
        • Money & Securities
        • Property in Transit
        • Property off‐Premises
        • Spoilage
        • Valuable Papers and Records
        • Outdoor Property (Fencing, Signs)
        • Outdoor Property (Trees, Shrubs, Plants)
        • Extra Expense
        • Glass
        • Electronic Data Processing
Commercial General Liability - learn more

A Cannabis Insurance Commercial General Liability policy has been designed to meet the needs of the hemp and cannabis industry.

Approved Classifications:

      • Manufacturers
      • Retail/Dispensaries
      • Wholesale/Distributors
      • Cultivation (Indoor, Outdoor and Greenhouses)
      • Management Offices
      • Property Managers
      • Garden / Hydroponics stores
      • 3rd Party Processors/Harvesters

Coverage Options:

      • Up to $15 Million

Deductible Options:

      • Up to $100,000

Endorement Options:

      • Hired and Non Owned Auto $100,000
      • Removal of Spores and Fungi Exclusion
      • US Vendor Endorsement
What's Included in Commercial Property Coverage?

A Cannabis Insurance Commercial Property policy has been designed to meet the needs of the hemp and cannabis industry.

Approved Classifications:

      • Indoor/Outdoor Growers
      • Analytical Operations, Assaying
      • Drug, Medicine or Pharmaceutical Prep Compounding
      • Security (unarmed)
      • Store Wholesale NOC
      • Store Retail NOC/Delivery
      • Salesperson Outside
      • Clerical Office

Coverage Highlights:

      • Named Peril forms
      • Property limits up to $70,000,000
        • No sub-limit for cannabis or hemp inventory
      • No Maximum number of locations – add as many locations as you need with no restrictions
      • Ability to lead and follow on a Subscription basis
      • Business Interruption
      • Motor Truck Cargo
      • Equipment Breakdown
        • Follow form on Property schedule
      • Crime limits up to $100,000
        • Includes Social engineering

Deductible Options:

      • Up to $100,000

Endorsement Options:

      • Premium Property Extension
        • Accounts Receivable
        • Employee Dishonesty
        • Money & Securities
        • Property in Transit
        • Property off‐Premises
        • Spoilage
        • Valuable Papers and Records
        • Outdoor Property (Fencing, Signs)
        • Outdoor Property (Trees, Shrubs, Plants)
        • Extra Expense
        • Glass
        • Electronic Data Processing

Questions?

Our team of insurance professionals are always here to help find the right insurance for you. Send us an email, check out “The Blog”, or give us a call to chat with one of our professionals.