Protect Your Weed Business With Cannabis Insurance
As a relatively new industry, the cannabis sector is booming with growth. Individuals need to know how to protect their businesses and assets. This cannabis insurance coverage is necessary to ensure the continued operation of small and large businesses in Quebec.
The production and sale of cannabis is a new industry. As such, cannabis insurance in Canada is also relatively new. Many insurance companies are still trying to understand the risks involved in such an undertaking. Effective with the coming into force of the Cannabis Act on October 17, 2018, several new regulations were implemented to control the distribution of cannabis.
Cannabis Insurance in Quebec – Commercial and Compliant Protection for the Cannabis Industry
The cannabis industry in Quebec and Canada requires specialized insurance coverage to meet Health Canada’s strict standards and the unique risks of the sector. Cannabis insurance covers producers, processors, distributors, retailers, and related companies (laboratories, warehouses, transportation). This insurance protects against crop loss, contamination, fire, theft, civil liability, equipment breakdown and business interruption. With Assur360, you can quickly compare the best policies designed for the cannabis industry in Quebec, taking into account your operations, your location and your regulatory obligations. Get coverage that’s reliable, compliant, and grows with you.
Which business can we insure?
Licensed businesses of any size active in the Canadian medical and recreational marijuana industry, including:
- Farmers
- Production and manufacturers
- Distributors
- Laboratory
- Medical Cannabis Clinics
- Subcontractor
If you’re a business owner, don’t worry. At Assur360, we have cannabis insurance brokers. If you’re looking for good business insurance for cannabis production, we’re the brokers for you.
How much does cannabis insurance cost?
Costs vary depending on:
- the type of business
- production volume
- the value of the equipment
- the level of security
- location in Quebec
- Claims history
Generally:
➡️ $2,500 to $200,000/year for an SME in the sector.
