Marijuana farming is an emerging business, and as such, it has some very specific needs when it comes to insurance. Since this type of farming comes with a myriad of grey areas, it is little wonder that not all insurers are willing to provide insurance for a grow op house. This is highly specialized coverage, and you must know that you will be completely protected.
One of the main things you need is insurance for your crop. Your crop is your livelihood, so protecting it is vital. It should cover your seeds, including any specialized hybrid seeds you’ve created. You will also need insurance on your live plants, harvested plant material and your finished product.
General Product Damage
Most business insurance also covers product damage. This includes protection against fires, vandalism, smoke and other dangers that all businesses face. It is particularly necessary for indoor growing operations that may be subject to the destruction of an entire crop. The financial losses from this destruction can be devastating to a business that relies on growing plants. Growers insurance can compensate you for these losses so you can get your business back up and running.
You will also need standard product liability and income insurance. When you start a marijuana grow operation, you should choose a company that understands your specific needs.