Cannabis plants being inspected

Why You Should Work With a Cannabis Insurance Expert

Oct 19 2021

Cannabis is a relatively new industry in Canada, and a booming one at that. Between cultivators, processors, and sellers of the product, there are a lot of niche liabilities at play. This also means that specialized cannabis insurance plans are not common and cannabis insurance experts are few and far between. 

A cannabis insurance expert will be able to give you comprehensive and detailed advice on the risks that your cannabis business faces. An expert also advises how to manage these risks with a fitting insurance plan. Additionally, a cannabis insurance expert can help you explore all the best options so that at the end of the day, you have an insurance plan that’s well worth its premium. 

If you’re new to the industry, here are the top things every business owner should know about cannabis insurance. In this guide, we’ll tell you all about what a cannabis insurance expert can do for you and what your next steps are. 

Let’s begin. 

A cannabis dispensary owner selling products to a customer in store

What Is a Cannabis Insurance Expert? 

In the world of insurance, insurance experts usually handle a specific set of industries that they specialize in. Cannabis insurance experts are those that have a deep level of understanding of insurance for cannabis businesses

In order for a cannabis insurance expert to offer the best insurance solution for a business, they would need to have the independence to offer various fitting options. They also need an expert-level knowledge of the cannabis industry and the business models that thrive therein.  

Since we touched on how independence plays a key role in setting up the best cannabis insurance plans, insurance brokers typically perform as ideal cannabis insurance experts. This is because insurance brokers have the freedom to offer different insurance products according to the needs of their clients – unlike agents who are typically confined to the set of products that their insurance company offers.

So to summarize the above points, a cannabis insurance expert typically has the following qualities: 

  1. A firm grasp on the cannabis industry, the types of businesses within it, and the risks that each business model faces.
  2. The independence to offer various insurance products that are the best suited for their clients.
  3. An understanding of various insurance solutions so that they can customize insurance plans for their client’s needs.    

The Benefits of Consulting a Cannabis Insurance Expert 

1. Save Time and Effort on Finding the Perfect Insurance Plan for Your Business 

One of the initial challenges faced by business owners who want to find the perfect insurance plan is spending hours canvassing through different insurance companies. They need to look for top choices, real reviews, weigh the pros and cons for each, and more.

But when you work with a knowledgeable cannabis insurance expert, you get to leverage their wealth of experience in order to get the most fitting insurance product for you, all without lifting a finger. 

2. Work With Someone Who Really Understands the Risks Your Business Can Face 

When you work with a cannabis insurance expert, you will be able to get your points across quickly. These experts know a lot about the industry that you’re in, whether your business operates as a cannabis cultivator, processor, distributor, or dispensary. Wherever you may be in this intricate supply chain, a cannabis insurance expert will understand your concerns and quickly get a grasp of the unique risks that your business faces. 

3. Work With Someone Who Gives You Options, Instead of Limitations 

One of the challenges you may face if you don’t work with a cannabis insurance expert is speaking to insurance employees who are limited in terms of insurance product knowledge and options. 

You will hear “unfortunately, that’s not possible” quite a lot, especially when you want to customize your insurance plan a certain way. This experience may give some business owners the idea that business insurance is rigid, limited, and impersonal when it couldn’t be farther from the truth. 

Work with a cannabis insurance expert and you’ll see that great insurance options abound. You can and will have the personalized insurance that you need. 

A cannabis business owner struggling with his insurance policy 

4. Get Organized Insurance Documents 

Most insurance documents follow a certain pattern of what they need to include. However, seasoned insurance experts are able to produce documentation that is more organized and clear. This will help you have an easier time understanding or reviewing the terms of your insurance policy. 

5. Get the Added Benefit of Learning More About Business Insurance (H3) 

Tried and true cannabis insurance experts know the ins and outs of the cannabis industry and the role of cannabis insurance in it. This means that they are best able to explain what kinds of insurance coverage are the most beneficial for your business. 

6. Know Exactly What to Expect From Your Insurance Policy 

Our cannabis insurance experts here at KASE Insurance take a proactive and transparent approach. We ensure that our clients understand everything about their insurance plans, including coverage limits, deductibles, exclusions, and so on. 

When you work with a cannabis insurance expert from our team, you will get to know your insurance policy just as well as we do. And if you ever get questions further down the line, we’ll always be around to answer them.  

7. Get Ongoing Support With Your Insurance Needs 

This specific benefit is not all that common, but it’s one that you can look forward to if you work with our cannabis insurance experts here at KASE Insurance. 

You get ongoing support long after your insurance is set up. We’re here to help you negotiate premiums, update your insurance, follow up on claims, and everything in between. We’ll make sure that you have true peace of mind by knowing that we’re always here to assist you and advocate for you. 

Get Tailor-Fit Business Insurance From Our Cannabis Insurance Experts 

At KASE Insurance, we have cannabis insurance experts that can assess your business and put together a tailor-fit insurance plan just for you. Our personalized cannabis insurance will give your exemplary coverage while also fully aligning with your needs and preferences. 

Our in-house cannabis insurance experts are here to make sure that your business insurance is hassle-free and easy. We’ll be with you every step of the way, from negotiating premiums to following up on claims. You can always count on our award-winning service. 

If you would like to learn more about what we can do for you, contact us today! You can also get started by requesting a quick quote

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