Cannabis production is a booming industry, but like many industries that develop quickly, its support infrastructure can be difficult to navigate. For example, if growers want to get crop insurance, most traditional agricultural insurance providers don’t have an actuarial table ready to anticipate the costs and needs of large-scale cannabis production facilities. Even licensed providers are often turned away due to a combination of slow response to the market and caution over fluctuating federal attitudes toward the legal cannabis trade. There are options, though. You just have to look for the providers who specifically cater to cannabis businesses.
Insurance for Medical or Recreational Production
Licensed growers will find that many insurers who work with dispensaries, cannabis transportation and delivery companies, and manufacturers of cannabis-derived products are also ready and willing to help them insure their crops. These insurers are typically more knowledgeable about the needs of cannabis producers and growers than legacy agricultural insurance programs, because they make everything cannabis their area of expertise. Getting your crop insurance from a knowledgeable, experienced provider willing to work in any state with a legal cannabis market means there are no surprises when you make a claim or when you review the coverage areas. The entire policy is built to provide you with exactly the protection you need.