Once you jump through all the necessary hoops required in starting a marijuana business it is a good idea to take an insurance inventory so that you can make sure your business is protected in case of emergency. An Inventory Insurance coverage for your cannabis business is pretty straightforward: it's simply a detailed list of all physical assets your business relies on in order to operate daily.
Professionals in the cannabis industry often overlook simple items like: furniture, fixtures, signage, and security cameras. In the event of a fire or other disaster you want your policy to cover these types of items as these are central to the operation of your marijuana operation.
It is very important to be thorough when making this insurance inventory list. The most effective way to do this is to walk through your business or store front slowly and take pictures of anything that is valuable in any way. It is also a good idea to keep notes of things like: item descriptions, purchase dates and estimated values.
The most common named perils include fire, lightning, explosion, and theft. It's imperative to protect your cannabis business once it's up and running. Is only logical to protect such a valuable investment; starting a legitimate and successful marijuana business takes a lot of time as well as a lot of capital. Do the responsible thing and insure your cannabis business.
Be sure to leave no stone un-turned and be as thorough as possible. It's a good idea to consider organizing your list by room and make copies of each list. Also, always save receipts for any items you purchase for your cannabis business.
Organization and forethought are key to making sure your cannabis business is successful.