What types of auto coverage do cannabis transport insurance policies offer?
Most insurance companies offer two main types of commercial auto coverage, and cannabis transport policies commonly make both types available.
Commercial auto insurance typically provides coverage for company-owned vehicles, usually offering coverage for vehicle damage, injury, and damage to other vehicles/property. This is the more robust of the two coverage options, and businesses that own their own vehicles likely would be wise to consider the protections this type of auto policy offers.
Hired/non-owned auto insurance typically insures vehicles that a business doesn’t own, but instead leases or rents. It might also cover employees’ personal vehicles that are driven for work, although this isn’t terribly common in the cannabis industry.
In most cases, non-owned coverage provides only liability protection for injuries and damage to other vehicles/property. It normally leaves vehicle owners responsible for insuring their own vehicles, which they may do directly or by insisting that the renting company purchases another insurance coverage.
Both of these commercial auto coverages are broadly capable of insuring trucks, vans or cars.