Protect your business if a product you sell malfunctions.
Product liability insurance for cannabis businesses.
Failure to include product liability coverage in your dispensary insurance cost could result in hefty lawsuits, particularly as the legal cannabis industry grows and expands in Illinois.
Many types of cannabis businesses sell products. As the cannabis industry is not federally regulated, there are hefty financial risks associated with this sale of products. States make up their own guidelines and regulations, but cannabusiness owners still assume the risk and responsibility if their product results in bodily injury.
What does cannabis product liability insurance cover?
Product liability insurance will protect your business if a product you sell malfunctions, is recalled or causes physical injury or illness. Some examples of product liability claims in the cannabis industry include:
- Exploding weed vaporizers
- Edibles that give customers food poisoning
- Cbd oil recalls due to high levels of pesticides
- Contaminated cannabis flower
- A cannabis product labeled with the incorrect amount of THC
- Cannabis products that lack proper warnings and instructions on the label
Which types of cannabusinesses should have product liability insurance in Illinois?
Any business involved in the sale of cannabis products should have product liability coverage. This includes dispensaries, cannabis manufacturers and distributors. However, if you own a dispensary, product liability insurance is crucial. Failure to include product liability coverage in your dispensary insurance cost could result in hefty lawsuits, particularly as the legal cannabis industry grows and expands in Illinois.
Do you want to learn more about cannabis product liability insurance? We at Reliant Agency are experts when it comes to cannabis insurance. If you would like a quote, reach out to us today via our contact page or the quote request form below.
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