What Can Hemp be Used for?

June 21, 2020 Blog

Suggestions from the Preferred Hemp Grower’s Insurance Brokers

Hemp has been around for several millennia and was used for a variety of items. For example, scraps of hemp fabric have been dated as far back as 8,000 B.C.  Many don’t understand what hemp is and the versatility it has. It is a plant from the Cannabis sativa L. variation that has less than 0.3% THC. It is genetically distinct from marijuana cannabis species. As a renewable source for raw materials, it has been incorporated in thousands of products from health foods, organic body care, and other items.

If you are interested in growing hemp for certain industries, then you are in luck because this plant has you covered! Remember that every business venture needs extra protection. The brokers at the Business Insurance Center can get you set up with hemp grower’s insurance so that you can move forward in your new endeavor with confidence.

Uses for Hemp

The entire hemp plant can be used to make thousands of items. Imagine the possibilities when you set out to sell your hemp to different industries. Here are a few different products:

  1. Hemp Seed. Starting with the seeds, you can see the list is quite extensive:
    • The nut can be used for bread, granola, cereal, protein powder, and milk and dairy products.
    • Hemp oil makes fuel, lubricants, ink, varnish, paint, dressings, margarine, body products, and cosmetics.
    • The cake is often used for flour and animal food.
  2. Hemp Stalk. The seed is just the beginning. The stalk is also useful for many uses:
    • The hurd is utilized for animal bedding, mulch, chemical absorbent, fiberboard, insulation, and concrete (sometimes call hempcrete).
    • The bast fiber makes cordage and rope, netting, canvas, carpet, bio-composites, clothes, shoes, and bags.
    • The stalk is used in biofuels like ethanol, paper products, cardboard, and filters.

Industries that Buy Hemp

Getting into the market can be tricky. Here are some industries that may be likely candidates for your hemp crop:

  • Manufacturing labs
  • CBD processing and extraction
  • A broker

 

Protection Starts with Proper Insurance

To help you take the best steps towards success as a grower, you should check into purchasing hemp grower’s insurance. The right policy can help with:

  • Protecting your crop. This drought-resistant plant can handle a lot, but it is still susceptible to extreme weather like tornadoes and hailstorms.
  • Safeguarding your equipment. Like any other farming operation, you need specialized equipment to ensure you harvest your crop on time.
  • Support when revenues are low. The price of hemp fluctuates greatly. You may need some help when your crop doesn’t yield enough for a profit.

Take on a New Adventure as a Hemp Grower – the Business Insurance Center Helps

Start a new adventure with confidence when you pick a market and protect your business with hemp grower’s insurance. The brokers from the Business Insurance Center stand ready to assist you with the right coverage. Let our more than 30 years of experience help you safeguard your business.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center about hemp grower’s insurance. We have a 24/7 call center to serve you and an online Live Chat operator. 

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