The hemp industry is expanding at an exponential rate. At the same time, a complex web of shifting regulations and policies makes it a potentially risky industry to operate within. Special hemp business insurance programs can help minimize many of those risks. Depending on what aspect of the industry you participate in, these popular options can complement existing risk management strategies.
Crops can be lost for a host of reasons. Excessive THC levels could force the destruction of an entire crop, grow houses could potentially be destroyed by weather or vandals, or a failed heat system could cause crop failure. Product insurance minimizes the impact of such losses so you can rebuild as needed and carry on with the next crop.
Transportation and Logistics Providers
Warehouses and transportation providers must comply with regulations both where they are located and where they ship products. In addition, they can be held responsible for damage to products that are in their possession. Securing adequate product and automobile coverage greatly reduces the risks associated with storing and transporting hemp products.
Whether you manufacture hemp products or the packaging that holds them, you can be held responsible for a wide range of problems. From false claims about health conditions to faulty ingredients, you need liability insurance that is designed specifically for the hemp industry.
Always discuss all aspects of your help business with your insurance provider so you can obtain the right coverage for your needs.