Builders Risk & Vacant Building Insurance
You’re gearing up to become a cannabis or CBD operation, you have secured a location and signed a lease but won’t be operational for sometime while you await city or licensing approval. You have some upgrades and construction taking place or have some expensive items you want to cover while you’re waiting to become operational. Looks like you need “Builders Risk” or “Vacant Building” insurance, important coverage’s especially if you are at least 3 months or so to completion or have more than 20% of construction left.
Many cannabis/CBD business operational insurance will not respond for a claim if you find yourself in the said situations. Even if just vacant with no construction this insurance coverage can still suffice for it and can be a lot cheaper than a business operation policy while you get to the next step, most commercial leases require a minimum of $1M/$2M General Liability insurance limits which can be handled economically with this type of coverage.