Hemp Crop Insurance
What is Hemp Crop Insurance?
If something were to happen to your crop would you be protected? The right hemp crop insurance coverage will protect your crop from a range of perils such as wind, fire, lightning, theft, hail, and failure of your environmental system.
What is included in Hemp Crop Insurance?
Hemp crop insurance is perfect for hemp growers and cultivators. Your crops will be insured through every step of the growth process.
There are limits up to $10,000,000 per location. In the event of loss or damage to your crops, your insurance will pay the insured amount at each insured cycle.
Optional coverage: “All Perils.” For a premium this coverage will cover all losses.
What are the benefits of having Hemp Crop Insurance?
As the law is now, growers in the cannabis industry are not required to have crop insurance to maintain their license. With the legalization of commercial hemp, however, this may soon change.
Despite not being a requirement, hemp farmers would benefit from investing in crop insurance. It can take four months for a hemp crop to fully mature. A single catastrophe could potentially flush months of hard work and money down the drain.
Hemp crop insurance would provide a way for growers to recoup their losses and replant new harvests. While the time spent can never be recovered, the product can be eventually replaced.
Tips for Choosing Hemp Crop Insurance
Hemp growers may be curious about the level of coverage they should receive when selecting a crop insurance policy. Often the decision of coverage selection comes down to a trade-off between a higher premium vs. a higher level of protection. Determine the size of your operation to ascertain your coverage level.
Now Available: Outdoor Crop Coverage for Hemp
At this time, most hemp crop coverage is only available for indoor and greenhouse facilities, contact us to learn more about outdoor hemp crop insurance.
Get a Hemp Crop Insurance Quote
At Cannabis Connect, we provide coverage for hemp and cannabis products. Our team of professionals will help you determine the best coverage for your business.