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The Future of Insurance for Vaping

The Future of Insurance for Vaping

Vaping has increased in popularity over the years due to its attractiveness as an alternative for smokers and an alternative vehicle for cannabis consumption. However, recent events in the news have both consumers and suppliers on edge. 

In The News

Deaths due to alleged vaping-related illnesses are popping up all over the country. These deaths are being attributed to everything from the flavored oils being used to a chemical used in cheap vape pens. Still others blame black-market cartridges containing THC.

These incidents spurred some legislators on state levels and the national level to introduce bills calling for banning of vaping and e-cigarettes in whole or in part.

Not Illegal Yet

As of now, vaping and e-cigarettes are still legal and may be sold by businesses and used by individuals. That may not change anytime soon.

What may change? The age at which consumers may purchase and use these products, how the products are made, and how they may be used. 

How Will Your Insurance Be Affected?

If you own a cannabis business or smoke shop that deals with vaping pens and/or e-cigarettes, there is no cause for alarm just yet. As long as these products remain legal and your business is selling legal products within the confines of the law, your insurance will not be affected.

To be certain your coverage isn’t affected, be sure that you know where all of your stock comes from. Always use reputable vendors, and don’t stock products that might have shady origins.

One thing to consider, if you don’t have it already, is products liability insurance. It is important to note that your basic commercial general liability policy excludes products liability for cannabis-related products. If a customer of your shop becomes ill or is injured because of a product you sold to him, products liability will protect your business.

If you aren’t sure whether you have products liability insurance for your business, check with your broker. Don’t wait for the process server to show up at your door with a lawsuit. NOW is the time to purchase this valuable coverage.

What If Vaping Is Outlawed?

If vaping is outlawed in whole or in part, you should immediately comply with the letter of the law. Change your signage and dispose of any products that can no longer be sold as soon as possible. 

Once certain products become illegal, your insurance coverage will no longer cover your business if you stock and sell these products. Any business found to be operating illegally would have claims denied and be subject to cancellation of insurance coverage.

We hope it doesn’t come to that. Please call us if you have questions or concerns about your insurance coverage.  

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