What Is General Liability Insurance?
Cannabis is legal for medical and/or recreational uses in many states. Any business that deals with cannabis needs to have business insurance. The most important form of insurance is general liability insurance for cannabis businesses. There are other forms of insurance that any cannabis-involved business might also choose to get, but in many states, general liability is a requirement.
General Liability Insurance
This kind of insurance is broad. Instead of picking just one thing to cover, it protects your business against various things, any general thing that could be claimed against your business. Those things mainly include injuries and damage to others.
Customer Injuries
This insurance protects your business against customer injuries. If someone falls and gets hurt at your business, they may rack up medical bills and try to sue you, which means you could end up paying their medical bills, legal fees, and settlement costs. General liability insurance insulates your business against those costs if they were to happen. If a customer makes a claim against you, you can file an insurance claim with your insurance company, and they should handle it.
Customer Property Damage
This covers damage to a customer's property, specifically when they are on your property. It doesn't cover damage to your property by the customer; for that, you would need to get something called commercial property insurance, which you could get with the same company that has your general liability insurance. An example would be if a customer falls and when they fall, they drop their glasses, and their glasses break. The customer would have a case for property damage against you as well as one for injury if they were hurt in the fall.
Advertising Injury
This one is a tricky title because it doesn't quite sound like what it is. Advertising injuries happen when your advertising has an impact on another business and causes harm to them. For example, your logo may be too similar to another company, or you may impinge on their copyright. Those things can cause monetary damage to other businesses and make you pay for them. Your general liability insurance can protect your business from those things.
If you are in a cannabis-related business, you are going to want to get cannabis general liability insurance. Make sure that the policy you get is specifically for cannabis businesses, and see if the company has other policies you may need.
