You've decided to look for a new cannabis insurance broker, or maybe you're shopping a renewal. Either way, the question is the same: how do you tell a real cannabis specialist from a generalist who happens to write the occasional cannabis policy?

Here are 10 questions to ask any broker before you sign. The pattern of answers tells you a lot.

The 10-question vetting checklist

1. How many active cannabis accounts do you write?

A serious specialty broker will have 20+ active cannabis accounts. Less than that and they're probably learning on your dollar.

2. Which carriers do you have direct relationships with for cannabis programs?

Look for direct appointments with cannabis-specialty markets. If they only have access through wholesalers/MGAs, that's not a deal-breaker, but it changes the speed and flexibility of underwriting and claims.

3. Can you point me to a Schedule I exclusion in a sample policy and explain it?

If they pause or pivot, they don't actually understand the form. A good cannabis broker can pull up a sample policy and walk through the exclusions in plain language.

4. What's your specialty: cultivation, dispensary, processing, or transportation?

Each operation type has different risks and policy structures. Some brokers know dispensary cold but have never written a cultivator. Match the broker's actual experience to your operation type.

5. Will you walk my facility?

Site visits are how good brokers find exposures the application doesn't capture. A broker who won't visit is selling on price, not on coverage.

6. How often will we review my coverage?

Cannabis operators grow fast. Annual review is the minimum; semi-annual is better. A broker who only contacts you at renewal isn't watching your business.

7. Who handles the claim if something happens at 9pm on a Saturday?

The real test of a broker is at claim time, not quote time. You want a direct line to someone who can advocate for you, not a 1-800 carrier number.

8. Can you give me references from existing cannabis clients?

Specialty brokers should have 2–3 client references they can connect you with. If they can't, they're either new to cannabis or have client-retention problems.

9. Do you carry your own E&O specifically endorsing cannabis advice?

Not all errors-and-omissions policies cover cannabis-related professional advice. A cannabis-specialty broker should have explicit cannabis E&O coverage. If they're working under a generic E&O, that's a yellow flag.

10. What's your pricing model — commission only, fee-based, or hybrid?

Most brokers are commission-based, which is fine if you understand it. Some specialty brokers charge fees on top. Make sure the answer is clear and in writing.

Reading the answers

One or two soft answers don't necessarily disqualify a broker. A pattern of vague or evasive answers does. The best cannabis brokers will have specific, confident answers to all 10 — and they'll often pre-empt some of the questions before you ask.

If you'd like a quote from Spire, contact one of our agents and we'll happily walk through any of these questions you'd want answered before you decide.

All coverage is subject to underwriting. No coverage is bound or altered until confirmed by an authorized Spire representative.