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New Jersey Cannabis Insurance

› Insurance Products › Cannabis Insurance › New Jersey Cannabis Insurance

visitor hand holding jar of cannabis concentrate oil closeupThe cannabis industry is experiencing incredible growth, with more states loosening restrictions just as the public gains a deeper understanding and acceptance of the benefits cannabis provides. Although it is a great time to operate a business in this field, it is important to ensure you are prepared for the many risks that come from operating a New Jersey cannabis business.

MFE Insurance offers a broad range of coverage to ensure your needs are met, with policies that address everything from the general risks that all businesses face to the more specific concerns that come with operating in the cannabis industry.

New Jersey Cannabis Insurance Coverage From MFE Insurance

Here is a closer look at the types of coverage we offer to marijuana dispensaries, growing operators and other cannabis-related businesses.

Property Insurance

Property insurance can protect your New Jersey cannabis business in the event of property damage. For example, it can help dispensaries and growing operations with the costs of repairing or replacing the business’s premises as well as its contents, inventory and systems.

General Liability Insurance

Your cannabis-related business could become the subject of property damage or bodily injury claims stemming from incidents that take place on your property. General liability insurance offers protection from issues such as customers being injured while shopping and can prove valuable in the event that an injured third party sues your company for medical expenses and damages.

Product Liability Insurance

If the use of a product sold by your New Jersey cannabis business results in damage or injury to another party and they choose to sue, product liability insurance can provide valuable protection. This type of insurance is recommended for all types of businesses, but it is especially useful in the cannabis industry because it is relatively new and some customers may not have a strong understanding of the proper way to use the products you sell.

cargo ship

Cargo Insurance

As a New Jersey cannabis business, you may work with cargo that would be nearly impossible to replace if it were damaged, such as harvested crops. Cargo insurance from MFE Insurance can protect your business from any financial losses that arise from this valuable cargo being lost, damaged or stolen during transport.

Cyber Liability Insurance

Like many businesses, cannabis companies can be targets of hackers who are looking to obtain sensitive data. With a cyber liability insurance policy from MFE Insurance, your business will be covered in the event of a data breach that involves the disclosure of information about your customers or employees, such as credit card numbers and other information. This protection is particularly important for cannabis businesses as your systems may also contain customers’ health records.

A cyber liability policy can pay for the legal fees involved in defending your company in court, along with any judgments or settlements, damage control services from public relations firms, and offering credit monitoring to the parties that are affected by the breach.

Commercial Automobile Insurance

Our commercial auto insurance policies cover owned, rented, borrowed and non-owned vehicles while they are being used in your business. The auto liability component of this policy can cover you against bodily injury and property damage incurred by other parties, while the comprehensive and collision component provides protection against theft and damage to the vehicle. If an employee who is working for your New Jersey cannabis business uses their own vehicle or a rented vehicle to carry out their work, this type of policy can cover damages resulting from accidents.

Workers’ Compensation Insurance

All employers in New Jersey are legally required to provide their employees with workers’ compensation insurance. This type of policy offers coverage if an employee working for your cannabis business is disabled or injured in connection with their work. It covers the medical costs related to the illness or injury, along with replacement income, retraining costs, and survivor benefits.

Crop And Inventory Insurance

cannabis crop covered by new jersey cannabis insuranceIf your New Jersey cannabis business grows crops or keeps an inventory of finished products, you need cannabis crop insurance to protect against the loss of assets.

Growers, dispensary owners and processors can all benefit from this type of policy, which covers the living cannabis plant during and after growth and through processing and preparation for purchase. In the event that your cannabis plant is damaged during growth or production due to an employee error or natural disaster, this type of policy could cover any loss in potential revenue related to the incident.

Get In Touch With The Cannabis Insurance Professionals At MFE Insurance

At MFE Insurance, our experienced insurance brokers understand the liabilities associated with the cannabis industry and offer a personalized service to ensure you get the benefits you need in this high-risk industry. Give us a call today at 213-266-7990 to find out how our insurance products can help prepare your New Jersey cannabis business for the unexpected.

Apply For New Jersey Cannabis Insurance

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213-266-7990

1019 E. 4th Pl.
Los Angeles, CA 90013
213-266-7990

344 N Old Woodward Ave,
Suite 302
Birmingham, MI 48009
313-395-1855

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4.8
MFE Insurance Brokerage
MFE Insurance Brokerage
4.8
Tara Fartemer
Tara Fartemer
13:34 20 Aug 19
I called MFE Insurance Brokerage about car insurance for my son after seeing the reviews on Yelp. (My son is a student in CA and I live in TN.) Payman explained everything in detail and got a great rate for us! I would definitely recommend him to anyone looking for insurance!
Aaron Godfred
Aaron Godfred
16:55 10 Sep 18
MFE Insurance is great. Omaze has demanding and constantly changing insurance needs and MFE is easy to get in touch with, has a great online cert generator and are awesome people to boot! Highly recommend.
Oscar Bucher
Oscar Bucher
05:25 15 Mar 18
Alec Roberts and his team really go the extra mile to ensure their clients receive the proper insurance that is right for their business at the best price with a timely turnaround. They provided same day service - from quote to a full policy with proof of insurance and helped me win bids and develop my business. They are your allies in the insurance world - look no further!
Jon Keeyes
Jon Keeyes
19:21 13 Sep 17
I've worked with many insurance companies over the years for production insurance on feature films. Once I found MFE, I never looked back. Not only is there pricing competitive (and typically better than many other brokers), Alec and his staff are amazing, quick to reply, and fast to assist. And they make all your insurance needs for production run smooth and easy. I couldn't recommend a better broker.
Ashley Rosenberg
Ashley Rosenberg
22:26 24 Oct 17
AMAZING. Never felt like they were giving me BS information, or quotes that weren't necessary for my production. Always informative (explaining in depth what I would, or wouldn't need for certain situations! Claims were seamless, and the team is always responsive. So grateful to have a broker that really is working for my best interest!!
Ian Bell
Ian Bell
18:03 03 Apr 18
Kat and the rest of the MFE team are amazing. Great communication and quick to find the best possible coverage.
Nick Scully
Nick Scully
20:20 29 Nov 18
John Hart was my broker for my first project requiring insurance, and he was incredibly helpful, professional, and patient with a first-timer. Highly recommend MFE and John's services!
Aaron Brown
Aaron Brown
16:25 13 Sep 17
I've been working with Alec and his team for years. They provide our production insurance and throughout the entire process, including a handful of claims, I've always felt informed, supported, and taken care of. Can't recommend MFE enough - these guys are the ones you want in your corner. They know the best insurance policies and will help manage any claims that arise.
Kate Ryan
Kate Ryan
16:50 08 Mar 19
MFE Insurance saved my business money and offered better coverage. We've worked together over the last several years, and have recommended MFE to family and friends. Alec Roberts and his team are always available to answer our questions or requests, and everything is done in a timely manner. We can't say enough about how well we are treated!
Alexander Baker
Alexander Baker
02:17 26 Sep 20
We were looking for last minute equipment insurance for a film shoot and MFE couldn't have been more helpful. John Hart was fantastic and made sure we got our coverage in time! I could not recommend this company more.
Kyle McKee
Kyle McKee
16:28 01 Mar 22
Been a customer for almost a year. Quick and easy to set up and was able to get a much cheaper price than my "good neighbor" insurance.
Cody Michler
Cody Michler
17:26 07 Jun 22
Peter was great! I did have to cancel temporarily but due to pivoting my business in a different direction. If you have niche and need coverage reach out to them! Its hard to find insurance for specific niches but they got it working for me while I was doing more onsite work!
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