Can Cannabis Dispensaries in California Have Insurance?
It has been over 2 decades since California became the first state in the U.S. to legalize medical marijuana. Currently, anyone over the age of 21 in California can purchase marijuana, whether it is medicinal or recreational. This has led to California issuing over 10,000 licenses from growers to distributors and everyone in between the cannabis market chain. Cannabis insurance, then, is an important topic for all businesses.
For those who own a dispensary that sits on commercial property, obtaining California dispensary insurance can be a challenge. Many insurance companies shy away from dispensary insurance due to legal loopholes with the federal government, which still classifies marijuana as schedule 1 drug- right up there with heroin.
Although many U.S. states have seen how ridiculous the federal government classification is and have legalized medicinal and recreational marijuana, dispensaries and others in the cannabis industry still find it difficult to find reasonably priced dispensary insurance due to the supply from insurance agencies being slow to react to recent changes in the law.
What Lawmakers Are Saying
There is still obvious prejudice against the cannabis industry in Washington. Many federal lawmakers have been quoted as having open disdain for the industry. This makes it difficult for many legitimate businesses to obtain dispensary insurance in California.
However, California seems to be rolling on with the cannabis industry. Recently the state’s insurance commissioner stated his agency will work with and even show leniency for those who have had past marijuana convictions who desire to become insurance agents or brokers.
By California activists working to put a ballot measure in 2020 to the Golden State’s voters that will ease marijuana regulations and lower taxes, they are hoping to undercut the black market for marijuana sales and bring these blossoming cannabis businesses into the forefront.
How CannGen Insurance Services is Making Insurance Access Easy
CannGen Insurance Services provides dispensaries and retail operations a program that provides California dispensary and commercial property insurance. Onsite consumptions for retail and dispensary classifications are approved in California, so for those looking for cannabis insurance California, turn to CannGen.
Launched as a way to provide insurance solutions to the cannabis and hemp industries, CannGen offers brokers and independent insurance agents a wide range of commercial products to offer their clients in the hemp and cannabis industry.
With over a decade in the cannabis insurance industry, CannGen provides a wide range of insurance solutions for any cannabis dispensary business, including commercial property coverage. For a complete breakdown of how CannGen can help brokers and agents provide clients with competitive dispensary insurance coverage, contact us today via email at cannapp@CannGenis.com or call us at (888) 751-3141.