Hemp Business Insurance For Crops & Shops

Protecting your hemp business from seed to sale.

Hemp farming and cannabidiol distribution- commonly known as CB Oil - is booming in Tennessee. Many tobacco farmers are now becoming hemp farmers. It’s an exciting industry to be part of and it’s growing rapidly.

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At Burgett, Ross & Associates we aim to provide the best insurance coverage and service to legal operators in the cannabis industry. We understand how difficult it is to find proper coverage and want to help you find exactly what you need to protect your hemp business.

We have insurance products that range from general liability, product liability, building coverage, property coverage, finished stock, crop coverage, equipment breakdown, excess liability.

The 2018 Farm Bill passed by Congress in December 2018 will allow Cannabis Plants to be included as part of the federal crop insurance program. Policies can be written to protect against the loss of crops due to natural disasters, such as hail, drought, and floods. This type of insurance policy for Hemp Farmers will be available for the Spring 2020 season. Please email us now to be contacted once the program goes into effect.


Commercial General Liability

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The Commercial General Liability policy has been specifically designed to meet the needs of the cannabis and hemp industry using both ISO (Insurance Services Offices), program specific coverage forms and endorsements.

This policy is available to be purchased as a stand alone policy, or in conjunction with other package coverages including Property, Crop, and Products Liability.

Coverage Options:

  • $1,000,000 Occurrence / $1,000,000 Aggregate

  • $1,000,000 Occurrence / $2,000,000 Aggregate

  • $2,000,000 Occurrence / $2,000,000 Aggregate

Deductible Options:

  • $2,500

General Liability Approved Classifications:

  • Cultivation (Indoor, Outdoor and Greenhouses)

  • Retail

  • Management offices

  • Landlords – LRO

Coverage Highlights:

  • Occurrence Form CGL-ISO

  • Duty to Defend

  • $1,000,000 personal advertising injury

  • Minimum Premium $500.00

  • Excess Limits with the same carrier


Commercial Crop

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The Commercial Crop “Living Plants” policy is specifically designed for the cannabis and hemp cultivation industry, which provides unique coverages that no other program offers today.  This policy covers the perils of theft and fire and is currently offered to indoor cultivation operations.  All seeds, plants, harvested and finished stock must be indoors for coverage to be available.

Deductible Options:

  • $2,500

  • $10,000

  • $50,000

Coverage Highlights:

  • Minimum Premium $500.00

  • NO sub-limit on seeds, seedlings, indoor living plants, harvested material and finished stock.

  • Crop coverage extends when the seeds, seedlings, living plants, harvested and or finished stock is located in an approved scheduled building and or greenhouse.

  • Any seeds, seedlings, living plants, harvested and or finished stock that is located in an unapproved building and or greenhouse, or is located outdoors, will be excluded from crop coverage

Approved Classifications:

  • Cultivation (Indoor and Greenhouses)

  • 3rd Party Processors/Harvesters

Coverage Options:

  • Seeds

  • Seedlings

  • Vegetative Plants

  • Flowering Plants

  • Harvested Plants (3rd Party Processors/Harvesters are only eligible for class)

  • Finished Stock

Options:

  • Up to $10M per location (no maximum number of locations per policy)


Products Liability

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Unlike other markets that offer Products Liability coverage, 100% of our policies are issued without any exclusions to cannabis, hemp, or the derivatives thereof.

Endorsement Options:

  • Retro Active Date – (up to 5 years)

  • Additional Insured Certificates

  • Waiver of Subrogation (no charge)

  • Primary Wording (no charge)

  • Vendor AI Certificates $100 ea./$250 Blanket

  • Commercial Product Withdrawal

Commercial Product Withdrawal Coverage Options:

  • $100,000 Aggregate

  • $250,000 Aggregate

Deductible Options:

  • $1,000 (only offered on $100,000 limits)

  • $5,000

  • $10,000

  • $25,000

Approved Classifications:

  • Cultivation (Indoor, Outdoor and Greenhouses)

  • 3rd Party Processors/Harvesters

  • Manufacturers

  • Retail

Coverage Options:

  • $100,000/$100,000 Aggregate

  • $1,000,000/$1,000,000 Aggregate

  • $1,000,000/$2,000,000 Aggregate

  • $3,000,000 CSL

  • $5,000,000 CSL

Coverage Highlights:

  • Scheduled Cannabis, Hemp and CBD Products

  • Non‐Cannabis, Hemp and CBD Products (As Scheduled)

  • Duty to Defend

  • Defense Outside of Limits – Available Endorsement Option

  • Product Withdrawal Reimbursement of Expense (Endorsement is Required)

  • Minimum Premium ‐  $1,000


Have A Question About Insurance For You Hemp Business? Please Complete The Below & We’ll Be In Touch.

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