Top Types of Cannabis Cultivation Insurance

If you are a medical marijuana user and entrepreneur looking to start a business or do small home based businesses, one of the most important considerations when considering your financial future is cultivating marijuana. While there are many businesses that have sprouted out on the marijuana scene in Colorado alone (Boulder and Denver to name two), there are still many differences between all of those business types and what you will be paying for when it comes to cannabis coverage. The best way to decide what type of coverage is right for you should begin to figure out what type of cannabis cultivation you plan to do.Do you want to learn more? check out

The three main categories of coverage are open-air collective, work cover and professional liability insurance for your board of directors and/or top executives. Some companies have created specialized cannabis cultivation policies, which will cover the entire spectrum of growing cannabis including indoor gardening, outdoor growing, greenhouse growing and seedling or propagating projects. Each type of policy will be more or less tailored towards its intended use and may offer different coverage than other policies due to these differences. All policies should have clear language as to the amount of protection that is afforded to the company, the grower, the retailer and anyone else involved in the cultivation, production or sale of the cannabis.

When deciding what type of cannabis coverage to buy, you should consider the cost of acquiring and maintaining the policies, the likely return on investment and whether any of the involved parties will be considered personal creditors. Personal creditors would include landlords and mortgage holders, while suppliers and others who rent the premises where the cannabis crop is grown would also be considering personal creditors. Medical cannabis suppliers and others who are on the same payroll as the Grower, retailer or company who issued the policy would not be considering personal creditors. If an individual is growing the cannabis crop for their own personal consumption, medicinal cannabis insurance policies would not be needed and those involved would get full credit for the cultivation.