Colorado Cannabis Related Business Insurance

December 7, 2018

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Colorado is a Cannabis State!

Common sense says cannabis insurance is something that is needed in Colorado. Especially with all of the new cannabis businesses starting up. I have an associate start a new LLC the other day and when opening her bank account, the banker asked her if her business had to do with the manufacturing, growing, selling or distribution on cannabis.

Along with a new legal business classification comes new business needs, to include insurance.

All Access Insurance is now offering Cannabis and Hemp insurance for retailers with on-premises consumption, retailers without on-premises consumption, cultivators, processors, manufacturers, wholesalers and distributors.

Here is a section of an article from the National Association of Insurance Commissioners regarding Marijuana and Cannabis businesses.

“Cannabis Related Businesses (CRBs) face many risks and obstacles. Some of the biggest risks involve theft, general liability, and product liability. Companies functioning within state legality face severe banking restrictions due to federal regulations. CRBs may be forced to handle large sums of cash and for this reason they can be subject to a higher risk of theft. CRBs share the same general liability and other risks agricultural and manufacturing businesses face. This includes workplace accidents, damage to property, and crop failure. CRBs are especially prone to fires from both wild and internal sources. The popularity of edibles and other infused products increases the risk of product liability and safety recalls. Products may be deemed mislabeled, misrepresented, or harmful especially given the psychoactive effects of marijuana and the wide range of people drawn to edibles. Standard general liability plans account for these claims in non-CRB businesses, but most insurance companies will not write policies for CRBs due to uncertainty about the legality of these businesses. Policy language specifically tailored to the cannabis industry is crucial in providing adequate coverage.”

This is why you need a professional to help you set it up correctly.

The excluded classes for coverage are:

  • Temporary events

  • Testing labs

  • Social clubs

Some of the policy numbers you will want to know are:

  • Maximum limits of $1M and $2M

  • Maximum per location General Aggregate limit of $5M

  • Minimum premium of $5,000

  • Minimum deductible of $2500

Our insurance coverage will help you:

  • Make claims

  • Includes coverage for electric vapes

Coverage is available for businesses in Alaska, California, Colorado, Maine, Massachusetts, Nevada, oregon and Washington.

Keeping you protected.




All Access Insurance in Littleton, CO,  who represents multiple insurance companies as a “Broker”and provides products for auto, home,  commercial, workers compensation, and much more! Call us today for a free quote at (303) 932-1700