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Good News for Hemp Growers! Federal Crop Insurance Now Available

September 27, 2019 News

Talk with an Experienced Insurance Brokerage

Hemp growers across the country are rejoicing as Congress passed a disaster bill amendment that makes insurance coverage available to certain industrial hemp growers in 2020. Until this moment, many growers endured nerve-wracking frustration as weather threatened their crops year after year. This change essentially legitimizes hemp as a row crop and may open other avenues for further protection at the state and local levels.

Protect your industrial hemp crop when you talk with the experienced team at the Business Insurance Center. We understand your unique needs in this robust industry. We discuss your specific needs and tailor a plan that safeguards your enterprise so that you can continue operating with fewer worries.

Legitimacy Opens Up the Industry to Continued Growth

For farmers who have been putting their livelihood at risk, the USDA relieved some of their stress by making hemp crop insurance coverage available at the federal level. The industry is touting these efforts by the government to help Americans in the agricultural sector. For example, hemp growers told Hemp Industry Daily that this announcement “legitimizes hemp as a row crop, like other agricultural commodities” means there are additional protections available.

As with any new legislation, there are a couple of eligibility requirements and restrictions, such as:

  • You must be compliant with your state’s plans.
  • You must have a contract for the purchase of your industrial crop.
  • Your hemp crop cannot test over 0.3% THC limit.
  • Hemp does not qualify for replant payments currently.

Protect Your Hemp Crop with Business Insurance Center’s Help

When you farm, you put your future in the hands of Mother Nature. Ensure you can recover when she makes things challenging. The knowledgeable brokers at Business Insurance Center are positioned to assist you in getting all the coverage you need. We offer:

  • Crop Protection – Goes above and beyond what the government provides when tornadoes, hurricanes, or hail devastate your crop.
  • Equipment – You need machinery to take care of your farm and it needs the proper protection.
  • Revenue/Sales: Nothing is guaranteed, including yields. It may make sense to have a policy that helps when prices drop.
  • Health, Life, and Disability – Like any small business, you, your family, and any employees need policies in place to safeguard in the event of illness, death, or other hazards.

Enjoy Extra Protection While Growing Your Hemp Farm

Ensure many years of protection when you purchase a hemp grower’s insurance program from the Business Insurance Center. For decades, we have helped the self-employed and small business owners safeguard their enterprises with policies tailored to their specific needs. We work with industries across a broad spectrum and understand the unique requirements of each. Contact us to experience the difference we can make.

Request a quote online or call (888)-585-0511 and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator. We serve the entire United States.

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