2026 Cannabis Insurance Checklist: What Every Operator Must Have Before Renewal
The U.S. cannabis industry is evolving faster than most operators can keep up with. Regulations are shifting, valuations are rising, product lines are expanding, and losses are increasing across the supply chain. That’s why 2026 is shaping up to be one of the most important years for cannabis insurance renewals.
For most operators, a renewal is much more than just a pricing exercise. It’s the moment when underwriting, compliance, risk management, and operational hygiene all come into focus. A weak renewal can increase premiums, trigger coverage reduction or leave dangerous gaps. A strong renewal, on the other hand, can lower rates, tighten coverage, and strengthen long-term financial stability.
This checklist breaks down everything cannabis operators need in place before their renewal and how a specialist like Starisks Insurance can help.
1. Updated Business Valuations & Inventory Counts
Underwriters rely heavily on current numbers to price and structure your coverage. If valuations are outdated, your renewal could:
Overprice your premium
Underinsure your property and crop
Create coverage gaps that void claims
Before renewal, make sure you have:
Updated building/property valuations
Current crop inventory + anticipated harvest cycles
Equipment lists with replacement values
Updated retail inventory reports
Sales projections and product mix (flower, edibles, concentrates, beverages, vapes, etc.)
Pro tip: Operators who submit clean documentation get better rates and smoother approvals.
2. Full Review of Property & Crop Coverage
Cannabis property losses are increasing every year, especially from:
Facility fires
HVAC/electrical issues
Extraction room hazards
Irrigation system failures
Mold, humidity, and contamination
Equipment breakdown
Make sure your policy includes:
Indoor & outdoor crop coverage
Equipment breakdown (not always included!)
Business income & extra expense
Spoilage/contamination
Coverage for product at every growth stage
Many operators assume these are included. They aren’t.
3. General Liability + Product Liability (Non-Negotiable)
Liability continues to be the biggest long-term exposure in cannabis. With new edibles, beverages, and high-potency products entering the market, liability claims are rising sharply.
Your renewal should include:
General liability
Product liability for all infused goods
Cannabis manufacturing coverage
Bodily injury/property damage protection
Coverage for mislabeled, contaminated, or defective products
If your policy excludes infused or consumable products, you are not properly covered.
4. Updated Security & Compliance Documentation
Underwriters want to see strong controls in place, including:
Security cameras
Alarm systems
Access control logs
SOPs for inventory handling
Transport protocols
Packaging & labeling compliance
Strong compliance = better pricing and fewer exclusions.
5. Cargo & Transit Coverage
If you move product between:
Grow → processing
Processing → manufacturing
Manufacturing → distribution
Distribution → retail
…you need cargo coverage.
Cannabis transport is one of the highest-risk stages. Theft, temperature swings, and accidents frequently lead to uninsured losses.
Make sure your policy covers:
Commercial transport
Third-party logistics
Employer-owned vehicles
Product in transfer or storage
6. Cyber Coverage (The Most Overlooked Policy in 2025)
Cannabis companies rely heavily on:
POS systems
Seed-to-sale tracking
Inventory management
E-commerce
Customer data collection
Payment platforms
This creates a perfect environment for:
Ransomware
Data theft
POS hacking
Regulatory fines
Business interruption
Cyber coverage can protect you from six- or seven-figure losses. It’s no longer optional.
7. EPLI (Employment Practices Liability Insurance)
The cannabis sector has higher-than-average employment-related claims, including:
Wrongful termination
Discrimination
Harassment
Wage and hour disputes
EPLI protects the business — and owners — from costly lawsuits.
8. Review Deductibles, Sublimits & Exclusions
The biggest mistakes happen here.
Operators often miss:
Low sublimits on theft
Equipment breakdown exclusions
Product liability restrictions
No coverage for power outages
Mold/fungus exclusions
Temperature/humidity exclusions
Cash-handling limitations
A policy can look “complete” but still leave you dangerously exposed.
9. Compare Multiple Carriers (Cannabis Specialists Only)
General insurance carriers rarely understand the cannabis industry. You should only compare quotes from carriers that specialize in cannabis — not generic commercial insurers.
Starisks works with multiple specialty carriers to ensure:
Accurate valuations
Fair pricing
Fewer exclusions
Faster claims service
Tailored coverage for grow, manufacturing, distribution, and retail
10. Schedule a Professional Coverage Review
The final (and most important) step before renewal is a full coverage review with a cannabis insurance specialist.
During a review, Starisks will:
Identify dangerous coverage gaps
Reassess valuations and inventory
Benchmark pricing against similar operators
Recommend stronger coverage structures
Optimize deductibles and sublimits
Prepare underwriting documents for better results
A 30-minute review can save your business from massive unexpected losses.
Final Thoughts: 2026 is the Year to Take Cannabis Insurance Seriously
As cannabis operations grow, so do risks — and underwriters are tightening requirements across the board. Renewing with outdated information or incomplete coverage exposes your business to high financial risk.
A strong renewal strategy means:
Lower premiums
Better protection
Fewer exclusions
Faster approvals
Reduced exposure across the entire supply chain
If you're preparing for renewal, don’t leave it to chance. Need help preparing for your renewal? Starisks Insurance specializes exclusively in high-risk, compliance-driven industries — including cannabis.
Book your coverage review today.
We’ll analyze your current policy, identify gaps, and help you secure the coverage your operation actually needs.
