Insurance for Hemp Growers

Insurance for Hemp Growers

Insurance for Hemp Growers

If growing hemp is a business opportunity you are considering, then you probably have a lot of questions. Common inquiries made by people in your position are how to get approved for a license, what variety of seed to grow, and where to sell your finished product. You might also be wondering, “can you insure hemp crops?”

Why You Need Crop Insurance

The answer to your question is yes, you can insure hemp crops. Like any other business, growing hemp requires significant start-up costs, including:

  • Seeds and growing medium
  • Indoor growing facility
  • Irrigation equipment and water
  • Pest control and fertilizer
  • Hemp growing license
  • Processing of finished product

With all these expenses, you cannot afford to lose a crop due to fire, irrigation failure, or theft.

What Can Be Insured

Keeping plants indoors is the safest method of cultivation, so obtaining insurance will be easier if you follow this best practice. At the insurance firm CannGen lists the following items as eligible for coverage:

  • Seeds
  • Seedlings
  • Vegetative plants
  • Flowering plants
  • Harvested plants
  • Finished stock

If you are serious about starting a hemp business, then keep asking questions, including those about how to protect it once it starts growing.

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