Marijuana Growers Insurance

Fire, theft, and vandalism are often underestimated, as many growers assume, “It will not happen to me.” Coverage to protect your cannabis crop is available for your indoor and approved greenhouse facilities. For a grower, time is money and our underwriters allow the grower to establish the value of their crop. For example, if the unforeseen happens right before your harvest you’ll want to be compensated for the product loss. How will you pay your employees? How will you relocate to reestablish your grow? We provide insurance products from well-known carriers to assist with these costs.

Pot Farmers Insurance and Marijuana Growers Insurance

These two terms are often used interchangeably and refer to insurance policies designed to protect cannabis cultivators from various business risks and liabilities¹.

Coverage

• Crop Insurance: This is a safety net for cultivators to handle unexpected crop loss and retain financial stability in business. Crop loss insurance is triggered by a loss due to natural disasters, inclement weather, disease, or pests²¹.
• General Liability Insurance: This protects your business against claims of property damage, bodily injury, and personal injury³.
• Product Liability Insurance: This covers your business if a customer claims that your product caused them harm or injury³.

Challenges

• Federal Law: Under the Federal Law, cannabis maintains its status as a Schedule I drug which creates confusion in the market, making the cannabis industry highly volatile¹.
• Banking Services: Many cannabis businesses face challenges in accessing banking services¹.

Greenhouse Insurance

Greenhouse insurance is a specialized insurance policy tailored to meet the unique needs of greenhouse operators, offering protection against a range of perils like storm damage, fire, theft, vandalism, and equipment breakdown, among others⁴.

Coverage

• Property Insurance: This helps pay for property damage and loss, such as a fire that destroys your plants, equipment, or greenhouse⁵.
• General Liability Insurance: This protects against basic third-party risks, such as an accident that injures a visitor at your greenhouse⁵.
• Equipment Breakdown Insurance: This coverage can help reduce your costs and get you back to work sooner if your equipment breaks down⁶.

Challenges

• Weather Damage: Every greenhouse faces the threat of hail, lightning, high winds, and tornadoes. Depending on where your business is located, there’s also the danger of hurricanes and heavy snow⁵.
• Electrical Fires: Devastating fires to greenhouse property are sometimes caused by poor or deteriorating electrical connections and wiring⁶.

The liability associated with running a cannabis farm can be significant. Accidents happen, in the event of a covered occurrence you’ll want to make sure your farm has insurance to pay for injuries, property damage, and personal injury. In addition, we have General Liability options for Herbicide/Pesticide/Fungicide applicators. Product Liability Insurance is essential whether you are a dispensary, cultivator, or manufacturer. You’ve seen it in the news! Cannabis operations are being required to prepare legal defense and prove their products are safe. In the absence of federally mandated procedures this is not an easy task.

Growers invest a great deal in their equipment and product and can also lose significant amounts of income when equipment fails and product spoils. Fortunately, you have options to protect your investment. Crop and equipment coverage are the most popular solutions and additional options are available to reimburse for loss in the event of an incident.

Our Expert Representatives Can Help

Because insurance coverage for cannabis is somewhat unique, new and often confusing, cannabis growers will benefit greatly from guidance on how to properly insure their cultivation from experienced cannabis insurance agents.

Cultivating cannabis comes with a variety of risks. It is absolutely necessary for any cannabis grower to have the proper insurance coverage to fully cover their business, decreasing potential losses and providing peace of mind. Contact us today and let us help you protect your cannabis cultivation.

Suggested Options

Indoor

• General Liability
  • Pesticide/Herbicide
• Product Liability
• Property Insurance
• Stock Inventory
• Business Income
• Business Personal Property
• Crop Coverage
• Equipment Coverage
• Property in Transit/Cargo
• Tenant Improvement Coverage
• Workers Comp

Outdoor

• General Liability
• Product Liability
• Property Insurance
  • Finished Stock
  • Property in Transit/Cargo
• Workers Comp