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Oklahoma Cannabis Insurance

› Insurance Products › Cannabis Insurance › Oklahoma Cannabis Insurance

medical cannabis sample in containerOklahoma has seen a steady rise in cannabis sales and dispensaries since medicinal marijuana laws were passed in 2018. Along with this boom in business comes a greater vulnerability to risk for those who operate within the cannabis industry.

The best way to protect against the many risks faced by cannabis-related businesses is with a comprehensive insurance policy from MFE Insurance. We have extensive experience in this relatively new field and can customize a policy that can safeguard your company from major losses, lawsuits, and business disruptions at an affordable price.

We offer insurance to many types of businesses that operate in the cannabis industry, including:

  • Wholesalers and distributors
  • Retail outlets
  • Labs responsible for breeding or testing cannabis
  • Growing facilities that process and package products

Oklahoma Cannabis Insurance Coverage From MFE Insurance

Here is a look at the coverage we offer to growing operators, marijuana dispensaries and other types of businesses operating in the cannabis industry.

General Liability Insurance

If any incidents involving bodily injury take place on your Oklahoma business property, the injured parties may bring expensive claims against your company. With general liability insurance, you gain protection from the issues that may arise if a customer is injured while shopping. If the injured third party files a lawsuit against your business for medical expenses and damages, general liability insurance offers valuable protection.

Property Insurance

A property insurance policy from MFE Insurance can protect your Oklahoma cannabis business in cases involving damage to the property. It can help your growing operation or dispensary cover the costs of replacing or repairing your business’s premises and its systems, inventory and contents if a covered event occurs.

Cargo Insurance

container containing cannabisYour Oklahoma cannabis business likely works with cargo that could be difficult to replace if it were damaged. For example, harvested crops that have been grown according to your specific growing conditions are very difficult to replace. With cargo insurance, your business will be protected from the financial losses that arise if this type of cargo is damaged, stolen or lost during transport.

Commercial Auto Insurance

A commercial auto insurance policy will cover any owned, borrowed, or rented vehicles while they are being used as part of your business. This type of policy contains two components. The first is auto liability, which offers coverage against bodily injury and property damage that is incurred by other parties. The comprehensive and collision component, meanwhile, protects against damage or theft involving the vehicle. It can also cover damages related to accidents that occur when an employee working for your Oklahoma cannabis business uses their own vehicle to carry out their work.

Crop And Inventory Insurance

Cannabis crop insurance is essential for protecting your Oklahoma cannabis business against the loss of assets such as crops or finished products in your inventory. It is suitable for dispensary owners, processors and growers, and can cover the living cannabis plant at every stage throughout its growth cycle, all the way up to processing and preparation for purchase. If a natural disaster or employee error results in damage that compromises the plant’s growth or production, this policy could cover losses in potential revenues that result from the incident.

Cyber Liability Insurance

Hackers in search of sensitive data that can be used for personal or financial gain often target small businesses such as cannabis dispensaries. A cyber liability insurance policy can protect your business in the event of a data breach involving the disclosure of information related to your employees or customers, including credit card numbers.

Cannabis businesses that contain customers’ health records are often targeted by hackers, and this type of policy can cover the legal fees involved in defending your cannabis business in court, as well as any settlements or judgments related to the breach. It can also cover the credit monitoring that must be offered to parties affected by the breach as well as damage control services to help restore your company’s reputation.

Product Liability Insurance

The cannabis industry is still relatively new, and not all customers have a solid understanding of how the products sold by cannabis-related businesses can be used safely. Therefore, product liability insurance is essential to protect in cases where the use of a product sold by your Oklahoma cannabis business results in injury or damage to another party that causes them to file a lawsuit.

Workers Compensation Insurance

worker filling injury claim form in with the business Oklahoma cannabis insurance policy Oklahoma law states that nearly every type of employer in the state is required to carry workers’ compensation insurance for its employees. This type of policy can cover an injured worker’s medical care related to an accident on the job, as well as illnesses that are caused by exposure to harmful substances at work and repetitive injuries that are caused by years of harmful motions.

Reach Out To MFE Insurance

At MFE Insurance, our brokers understand the risks faced by companies operating within the cannabis industry. We offer a personalized service that helps your company get the right coverage to ensure you are prepared for the liabilities associated with this high-risk industry. For more information about building an individualized policy for your Oklahoma cannabis business, reach out to our expert team today.

Apply For Oklahoma Cannabis Insurance

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

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

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Google Rating
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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