Marijuana Growers Insurance provides medical marijuana growers with several types and options of coverage. All three stages of cannabis growing can be insured against lost, theft, accidental damage, fire, lightning, explosion, windstorm or hail, plumbing damage and floods, and much more.
Marijuana Growers Insurance Policies
When applying for Medical Marijuana Growers Insurance, there are several underwriting guidelines that you must pass before a marijuana policy will be issued. The first requirement is that your grow facility must be inspected by a licensed electrical contractor confirming that the electrical architecture is adequate for our operations including power supply and number of circuits. The contractor must prepare a letter of approval that is required at the time of binding/ordering the insurance policy.
The second requirement for a marijuana insurance policy is that you must have a security system installed and operating including a burglar alarm that reports to an outside monitoring station to help protect your grow room from burglars .
Last requirement is if you are requesting coverage for finished cannabis stock you must have a TL-15 or ½ ton safe bolted to the floor and motion detectors must be installed in the safe room location. Please make note that if you are not requesting coverage for finished marijuana stock there is no safe requirement for your marijuana grow facility.
Marijuana Growers Insurance Coverage
Medical Marijuana Insurance for Growers will cover Living Plant Materials like Seeds, Immature marijuana seedlings, cannabis plants in the vegetative growth stage and mature plants in the flowering stage, which are rooted in the growing medium. Growers Insurance will also cover Harvested Plant Materials like Mature marijuana plant material no longer in the growing medium which are in the process of being dried. Finished stock or the actual medical marijuana medicine, whether it is in smokeable form (buds) or edible form (foods) will be covered if you have a Marijuana Growers Insurance Policy to cover your grow room or grow facility.