First Things First…
Protect Your Building or CannabisGreenhouse while It’s Being Built.
As a cannabis business owner, it’s important to protect yourself and your business. You need insurance while your building is being built. Builder’s Risk covers loss of your materials and building during construction as well as coverage for property in transit or property at an unspecified location.
- Permanent Works (ex: materials that will become a permanent part of the project)
- Temporary Works
- Covered Causes of loss:
- Basic Form
- Sprinkler Leakage
- Sinkhole Collapse
- Volcanic Action
- Broad Form
- Breakage of Glass
- Falling Objects
- Weight of snow, ice, or sleet
- Water Damages
- Special Form
- All risks of direct physical loss unless excluded. This is the form you should
Ultimately, it is in your best interest to have builders risk coverage in place before you begin construction of your cannabis-based business. As soon as your building construction is complete, your builders risk policy ends – regardless of the expiration date, and a property policy steps in.
If this sounds like a proactive insurance option for your new investment, NCIS can have a conversation with you to help protect your cannabis business while it’s just getting started. Please contact us here.