November 18, 2020
There were (5) states this year in November of 2020 that had the option to legalize Cannabis going into 2021. Cannabis Insurance Business is now helping businesses in these emerging legal cannabis states with cannabis insurance!
With great progress and much support, all (5) states passed this initiative. Showing great potential for National Legalization and many in the Cannabis community expressing hope for this next step (decriminalization).
We have never seen such a more probable time for legalization than now. See results and breakdown below; There are more states where marijuana is legal in the USA than not at this time.
1) Adult use PASSED in New Jersey – Population: 8,882,000
2) Adult use PASSED in Arizona – Population: 7,279,000
3) Medical use PASSED in Montana – Population: 1,069,000
4) Medical use PASSED in Mississippi – Population: 2,976,000
5) BOTH medical & adult use PASSED (X2) in South Dakota – Population: 884,659
The biggest thing to consider within all of this is the growing pains and the need for developing services and products such as insurance which is often overlooked for start up’s in the cannabis arena.
Running these business types is pricey and it’s important to protect your assets. Regulation in these states will still have to undergo development as well. This will create a vast job sector that will cover (5) states and bits & pieces of the USA altogether.
There is so much for these companies to consider when jumping into the industry of cannabis. We know as we are also involved hands-on in the industry ourselves. There is more to it than most would think. It can be tough without any guidance or preexisting systems in place.
Cannabis Insurance Business has been helping businesses in the emerging legal cannabis states for years and in all applicable states currently from insurance to general understanding and education. Being local and Native to Colorado we have had over a decade of experience and understanding.
If you are in New Jersey, Arizona, Montana, Mississippi or South Dakota you should really consider using an insurance expert from a state that has been in the cycle with this. As we stretch state to state and try to connect the dots one thing that can be obtained from your Cannabis Insurance experts in Colorado is peace of mind.
You can’t get insurance for Cannabis-related businesses just anywhere, you actually have to find a broker or agent that has access to these specific markets that are still limited at this time but projected to grow in the next couple of years.
The first place to start is obtaining General Liability + Products Liability or Commercial Property Insurance. It will unfold from there. Workers Comp, Commercial Auto, and Transportation, Professional Liability Etc. Whatever is needed we can insure it!
Cannabis Insurance Business makes sure we pick up any newly applicable out of state licensing as well as any company or carrier that decides to offer terms or participate in insuring your grow, extraction lab or dispensary.
We make sure we have all available options or options to come to ensure you the best deal and set up for your insurance. The last thing we want is to lose your business or get caught sleeping.
We are here to help educate these new states and their needs for insurance as well as mitigating risk as they jump into the wild world of Cannabis. Whether it’s THC or CBD and everything in between we got you covered!
Ready to learn more about insuring your cannabis & hemp products? The contact us at (720) 999-3345 or at info@CannabisInsuranceBusiness.com. You can also learn more about CIB at https://cannabisinsurancebusiness.com/about
Colorado-based and pushing the industry further one step and state at a time. Proudly serving all 50 states.
Pushing the industry further one step and state at a time. Proudly serving all 50 states. – Cannabis Insurance Business of Loveland Colorado
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