Marijuana Insurance Rules Unclear For Most Canadians: Survey

Article by Jessica Chin, Huffington Post

Marijuana Insurance Rules Unclear For Most Canadians: Survey Homeowners, renters, and drivers are all hazy on the rules. Most renters and homeowners aren't planning on growing cannabis at home when it becomes legal to do so in Canada. A close up of the marijuana farm industry. Beautiful macro and micro shots. Green house, outdoor, indoor plants. Harvesting cannabis, planting weed and more.

If you grow pot in your rented apartment and it damages the property, whose insurance will cover the damage?

That’s a question that both tenants and landlords alike don’t know how to answer, according to a new survey from rate comparison site Ratehub.ca.

Matt Hands, Ratehub’s senior business unit manager for insurance, told HuffPost Canada that insurance providers don’t have a lot of historical data about pot growing and smoking-related damages to accurately calculate the risk factors involved.

“But where I think they’re failing is … to be open with the public about that and even give their initial feelings on how it is,” he said.

Most homeowners (78.76 per cent) and renters (59.44 per cent) don’t believe their homeowner’s or renter’s insurance would cover cannabis growing-related damages.

Read the full article here.

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