Crop Insurance
What Is Crop Insurance?
What is Crop Insurance?
In the traditional agricultural space crop insurance is purchased by agricultural producers, and subsidized by the federal government, to protect against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities. The two general categories of crop insurance are called crop-yield insurance and crop-revenue insurance.
In the cannabis space (living plant) crop insurance is coverage for viable vegetation in a controlled, indoor environment still rooted in a growth medium.
We can provide cannabis and hemp crop insurance for plants in three stages of growth, from seed to sale.
The stages are:
Living Plant Material
These include seeds, cannabis plants in vegetative growth state, immature cannabis seedlings, and flowering mature plants in the growing medium.
Harvested Plant Material
Mature cannabis plant material that is not situated inside the growing medium, but is in the drying and curing process.
Finished Stock
Mature marijuana plant material no longer in the growing medium, which has been completely processed and is ready for sale.
Want a Free Crop Insurance Quote?
Grow Green Insurance offers unique crop insurance solutions such as:
• Specialty carriers for every industry
• Preferred pricing through partnered relationships
• “Pay What You Want” in Broker Fees