Cannabis dispensary insurance in Colorado

While there are no cannabis business insurance requirements in Colorado for running a dispensary, it's still a good idea to get coverage to keep your business protected.

Dispensary owners should consider the following policies, in addition to those mentioned above:

• Commercial property insurance helps pay for lost, damaged, or destroyed business property. For example, it can cover the cost of replacing stolen inventory or renovating a marijuana dispensary’s building after a fire.
• Property policies can include business interruption insurance, which covers costs when a fire or other covered property claim forces your business to close temporarily.
• Additionally, you may need inland marine insurance to protect property in transit or stored off-site, as property insurance only covers items at your business location.

While these are a top priority for cannabis sellers, they aren’t the only policies you need to run a business. YYou can always call our dedicated agent at (872) 260-5150 if you’re unsure which policies you need.

There are several requirements for running a cannabis facility in Colorado. Perhaps most important, you need a license from the Marijuana Enforcement Division to open a dispensary or other cannabis business. To keep that license, you need to follow the Division's rules about selling, storing, and transporting cannabis.

For example, Colorado requires cannabis businesses to:

• Install commercial grade locks (locks that are not designed for residential use) on all entry and exit points
• Adhere to Colorado cannabis tracking regulations, which includes using the METRC seed-to-sale system
• Install a security alarm system that includes video surveillance
• Follow marketing and advertising regulations, such as no advertisements near schools or playgrounds

Be sure to read Colorado's laws and requirements [PDF] to make sure your cannabis business is in full compliance.