How much does a Cannabis License Bonds cost?
Individuals looking to get their license in the Cannabis trade typically have to provide a surety bond to guarantee their company will comply with industry regulations. This type of license and permit bond is known by a number of different names: dealer bond, cannabis bond, weed bond, etc. No matter the exact name, this bond is needed for growers, cannabis products manufacturing, and cannabis retailers. In many cases they will also need a Commercial Liability Insurance policy as well.
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Many factors are considered when determining the price of an Cannabis License bond, such as bond amount( between $5000 and $100,000), bond term, claim history, and credit history. Generally, the cost of the Cannabis License bond will range from $100 to 10% of the bond amount.
Can I get Insurance for my Cannabis or CBD business?
There are many different types of insurance any type of business will need. The Cannabis and CBD industry need insurance for product liability, general liability, workers compensation, commercial auto coverage, and many others. We can help you navigate the problems of insuring your Cannabis or CBD business. Give a call or apply online today.
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