Acquiring Insurance as a Hemp Harvester
If you’re in the business of harvesting hemp, you may be wondering if you need insurance on your products and, furthermore, if you can get insurance. With the large spike in the hemp industry since 2018, the need for insurance has risen significantly. You’ll be happy to know that as an approved insurance classification third-party hemp harvesters are able to attain insurance with a variety of different features.
Policy Features To Look for
Once you’ve decided to purchase an insurance policy for your hemp harvesting business, it’s important to understand the type of coverage you can buy. These are a few of the insurance benefits you’ll want to look for while shopping for your insurance policy:
- Coverage with Duty to Defend
- Advertising injury of at least $1 million
- Low minimum premium
- Occurrence and aggregate coverage of at least $1 million
As with any business it is key to have insurance in the case of anything unforeseen happening to your product. As the hemp industry continues to grow, the need for third-party hemp harvesters is moving to that of a global scale. Especially if your business is able to provide contract work for such services as quarantining, processing, and testing hemp products, you’ll want to be sure you have the right coverage to keep your business flourishing.