By using industry-leading loss adjustment procedures, growers can protect themselves from the destruction of a hail storm including damage caused by hail, fire, and lightning.
With Hail Insurance, growers can protect $10 – $10,000+ per acre through October 31st or at earlier of severance of stalk.
Crop Classification Codes
P1 – Seed and Fiber
P2 – Cannabinoid (oil)
Set-Up Coverage (P2 Classification Only)
Reimbursement for the actual cost of set up labor if plants are blown over by the wind during a hail storm.
Reimbursement will not exceed 3% of the limit of insurance – $500 per acre max payable
Additional Requirements
Must satisfy all local, state, and/or federal licensing requirements and regulations
Must complete the worksheet and offer for approval prior to submitting an application
Payment must be provided with the application
Coverage is individually underwritten prior to offer
Exclusions
Loss due to obligatory destruction of the crop due to Tetrahydrocannabinol (THC) levels in excess of local, state, and/or federal maximum levels
Loss due to failure of the crop to meet the minimum requirements of the processor agreement or incapacity to market the crop
Damage caused during transportation
Damage caused while in storage
Destruction connected with wind shatter or shatter caused by mechanical harvesting equipment
Damage while the crop is in the windrow
Replanting of the crop
Theft
Destruction to male plants for acreage planted solely for the harvest of cannabinoids
HempGuard is multi-peril hemp & CBD crop insurance
developed by hemp farmers for hemp farmers
The Hempsurance team is not only managing hemp protection for our growers & farmers; we are also in the fields and always available to help. Click below for a free consultation to find out more.
