Cannabis Business - Auto Coverage Highlights
Available in AZ, CA, CO, GA, IL, ME, MI, NH, NM, NV, OK, OR, VT & WA (additional states to follow).
Requires one of the following supporting lines of business:
General Liability
Property
Commercial Package
Annual Policy Term
Admitted AM Best A VX rated carrier
Coverage Options:
Liability (up to $2M/$2M)
Comprehensive & Collision
Hired & Non-Owned Auto
Hired Auto Physical Damage
Medical Payments (up to $5K)
Uninsured/Underinsured Motorist
Towing & Labor
Lease/ Loan Coverage ($10K limit for new vehicles)
Loss of Use
Rental Reimbursement
Mobile Business Interruption (up to $50K)
Pollution
Approved Vehicle Types
Private Passenger Vehicles
Fleets (Up to 100 vehicles)
Light Trucks / Vans
Heavy Duty Trucks
Semi-Trucks
Trailer Coverage
Mobile Equipment
Appetite & Eligibility Criteria
Business must be domiciled and operate exclusively in states permitting the sale, distribution and use of cannabis
New Ventures OK
30% or more of total operations must include cannabis related services
Drivers must be 21 and over with a valid license
Prior Losses OK
Local, intermediate and long radius OK
State filing requirements OK
Ineligibility Risks
Independent contractors
Risks with a 3-year estimated loss ratio of 70% or more
Risks with broker operations
Drivers with more than 3 accidents and / or major violations within 3 years
Cannabis Motor Truck Cargo Insurance Coverage Highlights
Motor Truck Cargo Owners
Owned property transported in owned vehicles
Motor Truck Cargo Carriers
Property of others shipped by a contract carrier
Fleets up to 50 revenue generating units
Flexible rating
ISO Forms
Minimum Premium $5,000 (cargo only); $7,500 (including cash)
Coverage Options
Limits
$500,000 per conveyance limit, per vehicle, for cash, money, securities and cargo
Approved Classifications
Cultivators
Processors/Harvesters
Manufacturers
Wholesale/Distributors
Retail
Dispensaries
Specialty Transporters
Courier Services
Licensed Transportation Services
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