What Protections Do CBD Product Policies Offer?
CBD product policies frequently offer several different protections so that they can provide robust coverage. Some of the protections that a specific policy may provide include:
What Products Can CBD Product Insurance Cover?
CBD product insurance can be procured for a variety of different CBD- and hemp-based products. Depending on a policy’s specific terms, conditions and exclusions, the policy might insure the following:
- Tinctures and oils
- Lip balms and cosmetic products
- Skin care products and hair care products
- Dietary supplements and foods
- Drink mixes and infused drinks
- Pet treats and other animal products
- Vaping liquids
Businesses that have unique products can speak with an experienced agent about the best way to insure their goods.
Are CBD Policies Expensive?
Like most insurance policies, CBD policies’ premiums are normally based on businesses’ individual needs and risk factors. Some of the factors that might influence how much a policy costs include the business’ location, type of products made or sold, annual sales, distribution area, chosen coverages and limits, and past claims history.
Despite the many factors that influence price, policies tend to be affordable when compared to the potential expenses that a major claim could result in.
An independent insurance agent can help businesses check how much a policy that’s suited to their situation would cost. Independent insurance agents generally aren’t tied to a single insurance company, so they can usually request quotes for policies from multiple companies. Having several quotes provides an accurate picture of precisely what coverages are available and how much they would cost.
How Can Businesses in Massachusetts Get CBD Insurance?
For help finding CBD insurance, contact the independent insurance agents of The Feingold Companies. Our agents have worked with many Massachusetts companies, and they’re ready to assist your CBD-based business with its insurance needs.
