Cannabis Laboratory and Testing Facility Insurance 

As with any business, your cannabis laboratory and testing facility needs to be insured just in case something catastrophic occurs. Accidents happen and the unexpected could be waiting just around the corner, so it is essential that you have the proper insurance to feel prepared for these types of events. With our Cannabis Laboratory and Testing Facility Insurance package at OG Cannabis Insurance, you can rest assured and continue your important work knowing that you have the coverage you need.  

Types of Cannabis Laboratory Insurance 

When it comes to our Cannabis Laboratory and Testing Facility Insurance package, we include a variety of categories for coverage because we understand the complexities of your testing. OG Cannabis Insurance specializes in the cannabis industry, so we fully understand and are well-versed in the complications that may arise during the testing process (as well as all other stages of the cannabis grow, cultivation, and manufacture process). Our package includes four specific areas of coverage that will keep your laboratory and testing facility on the path to success no matter what happens. 

The first category of insurance is Errors and Omission / Professional Liability. Because you specialize in testing the products for safety, you are held to a higher standard in the event that something goes wrong. If a mistake is made, you may be facing a professional liability claim, so it is integral that you are prepared for that possibility. This part of the insurance package includes:

• Claims made
• $1 million occurrence / $2 million aggregate limit
• Defense outside the policy limit
• Cost of defense

As professionals in the cannabis industry, you will be expected to produce high quality products and have tested them properly. Be prepared and covered if something were to happen during the testing with the Errors and Omission / Professional Liability insurance.

The next three sections are essential for almost every company in the cannabis industry: general liability, product liability, and property coverage. In the general liability section, OG Cannabis Insurance includes:

• Available $2 million occurrence / $2 million aggregate limit
• Damages to rented premises
• Medical limit 
• Defense outside the policy limit

And we cover:

• Bodily injury/property damage 
• Landlord additional insured endorsement 
• Cost of defense
• Duty to defend

All of this is fairly standard for the general liability but certainly no less important. Next is the product liability coverage which is especially important when your company is actually handling the products and merchandise that can be sold to consumers. The product liability coverage from OG Cannabis Insurance includes:

• $1 million occurrence / $2 million aggregate limit
• Medical and recreational
• Retroactive date up to 5 years
• Product recall/product withdrawal
• Duty to defend

And the covered products include, but are not limited to:

• Scheduled cannabis, hemp, and CBD products
• Non-cannabis products, hemp, and CBD products
• Edibles 
• Equipment manufacturers

If your company has any other type of product that needs to be covered, we can certainly customize your policy to include it.

Finally, the property coverage part of the policy is also an essential element since it covers pretty much everything that is not the product or employees of your company. The property coverage includes:

• Up to $10 million per location
• Theft with no sublimit
• Fire
• Multiple deductible choices

And we cover:

• Dispensary inventory – cannabis crop, edibles, CBD products, & non-cannabis products
• Business personal property
• Building
• Tenants betterments and improvements
• Money and securities
• Outdoor property (fencing, signs)
• Personal effects of others
• Employee dishonesty 

These coverage lists may not be completely comprehensive, and our agents at OG Cannabis Insurance are happy to discuss any additions that you feel should be put into the policy. You should never feel like something in unsecured or unprotected when you have our Cannabis Laboratory and Testing Facility Insurance package.

Contact OG Cannabis Insurance Today 

If you are a cannabis laboratory and testing facility, you need to have thorough insurance that protects your investment in the event of any mistakes, issues, or unexpected disasters. Our insurance packages at OG Cannabis Insurance allow you to customize according to your needs, and our agents have the knowledge, skills, and experience in the cannabis industry to know what is most important to you and how to make sure your package works best for your company. 

Contact the cannabis insurance experts at OG Cannabis Insurance for more information on all of our coverage types and to request a fast, free quote for your policy today!

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AVAILABLE COVERAGES

ERRORS AND OMISSION/PROFESSIONAL LIABILITY INSURANCE

INCLUDES:

• Claims Made
• $1Million Occurrence/$2 Million Aggregate Limit
• Defense outside the Policy Limit
• Cost of Defense

 

GENERAL LIABILITY

INCLUDES:

• Available $2 Million Occurrence / $2 Million Aggregate Limit
• Damages to Rented Premises
• Medical Limit
• Defense outside the Policy Limits

 

WHAT’S COVERED:

• Bodily Injury/Property Damage
• Landlord Additional Insured Endorsement
• Cost of Defense
• Duty to Defend

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PRODUCT LIABILITY

INCLUDES:

• $1 Million Occurrence / $2 Million Aggregate Limit
• Medical and Recreational
• Retro Active Date- (up to 5 years)
• Product Recall/Product Withdrawal
• Duty to Defend

 

COVERED PRODUCTS:

• Scheduled Cannabis, Hemp and CBD products
• Non-Cannabis Products, Hemp and CBD Products
• Edibles
• Equipment Manufacturers

 

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PROPERTY COVERAGE

INCLUDES:

• Up to $10 Million – Per Location
• THEFT No Sublimit
• FIRE
• Multiple Deductible Choices

 

WHAT’S COVERED:

• Dispensary Inventory, Cannabis, Edibles, CBD Products, & Non-Cannabis Products
• Business Personal Property
• Building
• Tenants Betterments and Improvements
• Money & Securities
• Outdoor Property (Fencing, Signs)
• Personal Effects of Others
• Employee Dishonesty