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New Mexico Cannabis Insurance

› Insurance Products › Cannabis Insurance › New Mexico Cannabis Insurance

Is your New Mexico cannabis company insured? It can be challenging to secure a good insurance plan for a cannabis company for multiple reasons, such as:

  • The legality of selling cannabis
  • High theft risk
  • Lawsuits on cannabis or cannabis-derived products

MFE Insurance provides comprehensive insurance plans to cannabis organizations across the country, including in New Mexico, to ensure that all of your cannabis company’s transactions are financially secured without any trouble.

All-In-One Cannabis Insurance Company

women who owns a cannabis business working in her officeAt MFE Insurance, we offer different insurance plans to provide financial security for your cannabis company. Cannabis companies deal with unique risks daily. It is vital to protect your company from financial setbacks such as bad harvest and product recall. MFE Insurance makes all of this possible by providing policies that build a reliable safety net in all adverse situations.
Learn more about the types of policies we provide for businesses in the cannabis industry.

General Liability Insurance

General liability policies safeguard your cannabis company, equipment, and products from harm and damage. No matter the nature of the damage, you can file a claim for financial compensation.
General liability policies also cover financial expenses for physical injuries that may occur at your operating site. With these insurance policies, you and your customers are always safe from every form of catastrophe.
However, this policy does not apply to your employees. It only provides financial help when a customer has an incident within your company’s boundaries or when using your products. When a customer files a lawsuit, your general liability policy covers settlements, attorney bills, and other related costs. In some cases, our policies also cover injured individuals’ emergency medical expenses or the costs of replacing and repairing their damaged item or property.

Product Liability Insurance

different cannabis products displayed on a wooden tableProduct liability policies are your protection against lawsuits and liabilities arising from damage caused by your cannabis or cannabis-derived products. As cannabis affects everyone differently, people can file a claim against your company in case of any harm.
Settling these lawsuits costs a lot of money and puts a black mark on your reputation. If a consumer claims that your cannabis products have caused them harm, product liability insurance provides you with financial backup to fight all your legal battles.
MFE Insurance is committed to protecting you and your cannabis company assets from consumers’ lawsuits. As long as you are onboard on our product liability insurance policy, you are entirely safe from:

  • Liquidation of business assets
  • Cancellation of cannabis selling and growing licenses

Finished Stock Insurance/Crop & Inventory

One of the greatest challenges for cannabis businesses after harvesting their crop is keeping it in a controlled environment. Moreover, as it is a highly demanded plant, it is important to keep a close eye on inventory.
Crop & inventory / finished stock insurance covers the plant during and after its production. It also protects after-harvest cannabis that is sheared, treated, and prepared for purchase.
This insurance policy is also applicable for companies that do not grow, process or dispense cannabis. If you only keep a cannabis stock inventory, this policy protects you from asset and monetary loss.

  • If your cannabis production suffers a loss due to insufficient growth, crop damage during growth or harvest, or material damage during production, this policy will all the loss of potential revenue generated by the product material. If the damage results from a natural disaster or an employee error, you can file a claim.

Cargo Insurance

Cannabis cargo is also known as irreplaceable cargo because it consists of harvested crops ready to be transported to the next destination. If this crop gets lost or damaged during transportation, you must wait for the right season to plant the harvest again. Moreover, all the product is lost without yielding financial benefits.
Cargo insurance protects you from monetary loss if your cannabis cargo gets lost in transportation. Moreover, it covers the entire cost if your cannabis cargo is stolen, damaged, or destroyed during transport. In short, as long as your shipment is in motion through a vehicle, your cargo loss is protected.

Workers’ Compensation Insurance

women working on a cannabis greenhouse covered by workers compensation insuranceA good company takes care of its employees and protects them from permanent or temporary damage during working hours. Additionally, the law dictates that companies must compensate the injured workers financially.
Even though our workers’ compensation insurance policy’s rules and regulations vary from state to state, we have a primary baseline in our policy for all states, which covers:

  • Medical costs from the injury or illness
  • Compensation in case of permanent injury
  • Costs to retrain
  • Replacement income
  • Benefits to next of kin if the worker dies in a working accident

Contact Our Cannabis Insurance Company In Mexico

As the cannabis industry continues to grow in places like New Mexico, it is important for cannabis businesses to have a trusted partner for all their cannabis insurance needs. Reach out to the knowledgeable professionals at MFE Insurance today to learn more about how you can build a safe working environment with our cannabis insurance policies.

Apply For New Mexico 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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