Must have renters insurance with pet coverage. 

Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

I understand the rationale behind aiming on the lower $ coverage side since the exposure is spread out a bit more, but I would like to take the pulse of the industry:  are you more inclined to insure for less coverage with a lower deductible or insure for more coverage with a higher deductible, assuming premium is equal? 

There are several programs that specialize in providing coverage for the cannabis industry. 

VERIFY PROPPER COVERAGE!

Hey Scott,   If your lease is comprehensive, you should be able to evict for damage and theft.  

The owner tried to get the suit against him personally dismissed and the motion was rejected, The owner got $1 million in liability coverage and was sued for $3 million.

It depends on your credit score, the property value/loan amount, and the property's income (what's known as the debt-service coverage ratio (DSCR)).

What type of coverage? 

Jonathan,There are 3 types of valuation typically used by Insurance companies: Replacement Cost (cost to rebuild with the same kind & quality), Actual Cash Value (replacement cost minus depreciation), and Agreed Value (an agreed amount of coverage between Ins Company and Insured - rarely used).It sounds like you are looking to insure the Actual Cash Value (ACV).