July 28, 2022

Dutchie Insurance is now available for U.S. cannabis dispensaries

Mauricio Comi
July 28, 2022

The cannabis industry is one of the fastest-growing industries to date. New Frontier Data projects that by 2025, the market value of the U.S. cannabis industry will reach annual sales of $30 billionβ€”and with more regulations comes more risk.

The uncertainty that surrounds the federal legality of cannabis in the U.S. has led insurance carriers to be restrictive in offering broad policy terms, adding to the challenge of finding the right coverage. This is an ongoing battle for many cannabis entrepreneurs, as they struggle to get reasonable quotes and find agents who understand not only cannabis policies, but the industry as a whole. Without the right guidance and expertise, dispensary owners can become trapped in a lackluster insurance policyβ€”leading to higher costs, low confidence, and significant gaps in coverage.

Introducing Dutchie Insurance

That’s why we’re thrilled to announce the launch of Dutchie Insurance, our full-service insurance agency that caters exclusively to the cannabis industry and is focused on providing the most competitive, best-fit coverage options for dispensaries in the United States.

Our insurance programs are designed to support the full spectrum of any cannabis business, from seed to saleβ€”including cultivation, processing, wholesale distribution, and retail. We partner with industry-leading insurance carriers who have access to insurance solutions designed exclusively for the cannabis industry. Our goal is to provide dispensaries with the best-fit coverage options and first rate-service so they can focus their energy where it matters most: growing their business.

What should a cannabis insurance policy cover?

No matter the nature of your state’s market or its requirements for insurance, there are some basic insurance coverages cannabis businesses should keep in mind as they figure out their needs. Dutchie Insurance offers the following coverage:

  • Property Liability: Covers damage from theft, fire and most weather occurrences.
  • General Liability: Protection in the event a 3rd party (someone outside your business) is injured on your property. Also covers their personal property if it’s damaged as a result of your operations.
  • Product Liability: Protection if injury or damage is caused to a third party (or their property) due to a defective product.
  • Workers Compensation: Covers medical costs and lost wages if your employee is hurt or becomes ill from a work-related injury or accident.
  • Commercial Auto: Protects company vehicles in the event of a work-related car accident.

Other lines include but are not limited to Directors and Officers, Builders Risk, Employee Practice Liability Insurance, Excess Liability, Equipment Breakdown, Loss of Income, Cyber Liability, and more.

Talk to a cannabis insurance expert today

Reading and understanding insurance policies can be challengingβ€”not to mention time-consuming. Depending on the quote, scope, and common conditions and exclusions, most insurance contracts for cannabis businesses are upwards of one hundred pages.

Dutchie insurance experts are here to help you get the best products for your business, we will partner with you to understand your unique needs, and make sure that your insurance policies are customized to them. We will also provide you with information to help you make the right decision between insurance cost, and adequate coverage.

To learn more about Dutchie Insurance, contact our team of in-house cannabis insurance experts today.

*Dutchie Insurance is currently only available in the U.S.

About the author
Mauricio Comi
Head of Insurance @ Dutchie