Your Cannabis Crop Is Your Entire Business – Crop Insurance Solutions Are Smart for Your Whole Business
Crop insurance is an insurance policy that, under certain conditions, covers you in the event there is a loss to your crop. Cannabis crop insurance is not state-mandated anywhere in the United States at this time, but we highly recommend this type of insurance for every legal cannabis grower.
The reason for thisis simple: your crop is extremely valuable – and an entire grow that took four months to harvest could be wiped out in a fire. If you think the chances of that are slim, consider the growers who were victims of the Thomas Fires in Northern California last year. The firesdidn’t directly consume their crop, but the ashes from the fire made their way into nearby greenhouses resulting in plants testing positive for asbestos, lead, arsenic, and magnesium. This resulted in a total loss for some growers. Meanwhile, some of these growers DID have cannabiscrop insurance, turning a $30,000 insurance cost into a payout of around $1,000,000.
What If I Have An Indoor Grow, and I Am In An Industrial Area?
Indoor grows draw heavy electrical power, including the use of High Pressure Sodium lights, which are fire hazards. Crop coverage provides protection in the event of fire, lightning, wind/hail, theft, sprinkler leakage and other cause of loss. However, loss caused by variations in climate or care-taking such as mold, dry rot, disease, fertilization issues are not.
National Cannabis Insurance can help you work through the insurance fine print so that you can decide if a certain insurance coverage is right for your business or not. Contact us today to get started with crop insurance solutions.