Delivery Insurance for Online Cannabis Sales
With online cannabis industry operations increasing, hemp and marijuana companies are more susceptible to liabilities than ever before. If you own a cannabis business with delivery services, you must have ample insurance to cover all potential risks. GreenWrap Insurance Solutions offers customized coverage packages to meet the needs of all aspects of the cannabis industry. Here, we describe insurance policies marijuana or hemp delivery companies need to thrive in the market.
What Delivery Coverage Do You Need?
Customer demand for cannabis delivery services will likely increase moving forward, making it vital to review your current insurance policies and ensure they provide the coverage you need to conduct your business. Consider the following types of insurance for your hemp or marijuana delivery service:
General Liability Insurance
Although it is not always required to obtain a cannabis license, general liability insurance is helpful because it covers bodily injury, medical costs, legal fees, and property damage claims from third parties against your company. Even if you don’t have a physical location, it may protect you against accidents during delivery.
This insurance protects damaged or stolen property, equipment, signage, or storage facilities that you own. Note that it will not safeguard items in transit or another person’s possession – you need separate coverage to protect items once they are delivered.
This insurance can cover damage or physical loss to hemp and marijuana products in transit for peace of mind until they reach the customer. You can either add a cargo policy to your insurance package or obtain coverage that extends to the company you hire to deliver the goods.
Business Auto Insurance
It is common for cannabis delivery businesses to send their drivers out in their personal vehicles. It’s important to note that most personal car insurance policies will not cover business use of employees’ cars, leaving your business fully responsible for injuries and damages if an accident occurs. Commercial auto coverage offers better protection for your employees and assets.
Product Liability Coverage
While property insurance protects your business possessions, product liability policies safeguard your business if any item or service you sell causes illness, harm, or other undesirable side effects.
If one of your employees is injured while conducting a job activity, workers’ compensation covers their medical costs, death benefits, lost pay, and rehabilitation. You must retain documentation that the work caused the injury for claims handling, especially in delivery cases where the employee is not at the primary job site when hurt.
Cyber Insurance Policies
Cannabis delivery services frequently handle online sales, meaning their systems contain sensitive customer information and confidential data about business partners. If these private records are released due to poor computer security, you could experience diminished profits, investigation, extortion demands, litigation, or regulatory actions. Cyber insurance significantly mitigates these risks.
Cannabis products tend to be expensive, increasing the likelihood of theft by a dishonest employee or third party. Crime insurance protects your inventory against such devious behavior.
Find Delivery Insurance with GreenWrap Insurance Solutions
Given the growth of online shopping and delivery services, your cannabis business may need more insurance to cover your expanding operations. With over 20 years of experience, GreenWrap Insurance Solutions delivers personalized coverage packages at competitive rates to Fortune 500 companies and small startups alike. Our combined background in agriculture, construction, medical and life science, and general insurance lines allows us to serve all sectors of the cannabis industry, from seed to sale. We serve customers in North America, the Caribbean, Europe, and sectors of Latin America and would be proud to help your company. Contact us today to schedule a consultation and learn more about delivery insurance.