Our work in marijuana insurance allows us to talk to many people interested in entering this emerging industry. During our conversations, we run into clients discussing the insurance implications of owning and operating a business in this industry. Throughout the talks, we often get questions related to what insurance agency they should use to insure their business. We see questions like:
“What sets your agency apart from my current insurance agent that insures my other business?”
“Why should we work with your agency?”
“What value can you bring to my business vs. the other insurance agent?”
We love answering these questions here at The Roots Insurance! So let’s jump in and answers all of these questions in one place.
“What sets your agency apart from my current insurance agent that insures my other business?”
While we greatly appreciate the loyalty many of our clients have to their current insurance agents for their personal insurance or even their business insurance, we hear way too often the struggles our clients run into when they work with insurance agents and carriers that do not understand the uniqueness of the cannabis industry. We hope our clients have the same loyalty to us when they are opening a new business. Of course, we want to be their go-to for all their insurance needs! However, with this industry, it is imperative that businesses work with insurance agents that know what they are talking about.
We had a client tell us that their insurance agent took over 4 weeks to get them an insurance proposal for their provisioning center. They were waiting on the insurance policy to submit to their local municipality and it took over 4 weeks to get a proposal. This is not only a ridiculous amount of time to wait for a proposal, but it is completely unnecessary! While each policy is different, most insurance proposals have a 48 hour turnaround time. If the agent you are working with is unfamiliar with the markets that write cannabis businesses, it could delay the quote process. We have a team dedicated to researching and vetting potential insurance carriers to make sure our clients are marketed to the best carriers available in the industry.
“Why should we work with your agency?”
Well there are lots of reasons we think you should work with us! First, we are awesome! DUH! Have you checked out our team? We’ve surrounded ourselves with the best of the best in the insurance industry to make sure our clients are in the best hands possible. Second, have you checked out our website? We spend time researching and educating our team to make sure we understand your business. We know the municipality requirements in the city you plan to operate in. Is your city requiring a surety bond? We have markets for that. Need $500,000 in fire legal liability? Yup, we were already prepared for that too. Not many insurance agents can say that they have a whole division of their agency dedicated to researching and updating our clients on the municipality requirements throughout the state.
Next, we make the quoting process easy! Have you seen our online application? Submit your information (or as much as you have) so we can get started. Once we have the preliminary proposal back, we will come out to discuss the proposal and go over any other insurance products you may be interested in or we may recommend to you due to the nature of your business. Once you see how easy it is to get the application process started, you won’t want to go anywhere else to insure your business.
Finally, did I mention how cool we are? I mean we have a living wall in our office. That should close the deal right now.
“What value can you bring to my business vs. the other insurance agent?”
Aside from all the other benefits listed above, we work with many businesses in the cannabis industry. Our network is pretty large and we LOVE helping our clients connect with other professionals in the industry. Need assistance staffing your business? Questions about transporting your stock? Need a CBD oil manufacturer for your provisioning center? We have answers and would be happy to help!
Whether you are currently operating and insured or if you just have general questions regarding insurance in the cannabis industry, we are ready to assist!
