What is CBD Insurance?
The emerging CBD industry has created new business opportunities, but with these opportunities come certain risks. CBD insurance can help Massachusetts businesses in this industry shield themselves from a range of risks that they face.
CBD insurance is specialized commercial insurance for businesses that make, wholesale or retail hemp and CBD products. Because this is such a specialized insurance and the industry is relatively new, businesses should seek out an agent who’s familiar with these policies when looking for coverage.
What Massachusetts Businesses is CBD Product Insurance Right For?
Most Massachusetts businesses that operate in the CBD industry ought to carry CBD product insurance. This includes businesses that are involved in the extraction, manufacturing, distribution or sale of hemp and CBD products. Not insuring these businesses can leave them dangerously exposed to substantial risks, and this tends to be the most appropriate type of insurance for these businesses.
Farms that grow hemp generally also should carry insurance, but their insurance needs tend to be slightly different than businesses that extract, manufacture or sell products. Instead of CBD product insurance, hemp farms should work with a knowledgeable agent to find a policy that better suits their needs. Often, this involves finding a policy that includes crop insurance.