What is CBD Insurance?
Massachusetts businesses that are involved in CBD-related commercial activities have high profit potentials, but they’re also exposed to a range of risks that many general insurance policies aren’t designed to protect against. CBD insurance helps protect these businesses form a variety of risks they face.
CBD insurance is a unique form of business insurance that’s designed to protect businesses which make and/or sell CBD- or hemp-based products. The insurance is still fairly new, so it’s important to work with a specialized insurance agent when comparing policies and selecting coverages. A knowledgeable agent will understand what risks businesses in the industry face and know what protections are currently available. They’ll also be current with insurance developments related to the CBD industry, so they can provide informed and up-to-date recommendations.
What Massachusetts Businesses is CBD Product Insurance Right For?
The majority of Massachusetts businesses that are involved in processing, manufacturing or distributing CBD- or hemp-based products should have CBD product insurance. This is normally the most appropriate type of insurance for such businesses, and not having insurance can leave a business dangerously exposed to potential risks.
Cultivators who grow hemp also usually need insurance, but the risks they’re exposed to are different from what processors, manufacturers and distributors face. Thus, cultivators frequently are better protected with a slightly different form of insurance. An agent can help growers find a policy that’s right for them.