Hemp Crop Insurance Program
Available in only 32 counties in Colorado, Adams Insurance Advisors introduces the Hemp Crop Insurance program.
The program is determined by your Actual Production History (APH)
- Yield-based crop insurance program
- Covers reduced yield due to covered perils
- Coverage for the standard list of perils
Coverage types include:
- CBD
- Fiber
- Grain
At coverage levels from 50% to 75%
Insurability
- Must be licensed by a governing regulatory authority (e.g. state, tribe, or USDA).
- Must provide acceptable production evidence that you have produced the crop at least one year prior. (This applies to start-up (beginning) farmers/ranchers as well.)
Insured crops should meet minimum acreage requirements by type:
- CBD: 5 acres
- Grain & Fiber: 20 acres
Covered Causes of Loss
- Adverse weather
- Fire
- Insects
- Plant disease
- Wildfire
- Earthquake
- Volcanic eruption
- Failure of irrigation water supply
Causes of Loss Not Covered
- Mandatory destruction (exceeds permitted THC levels)
- Quality deficiencies
- Failure to follow requirements in processor contract
- Inability to market unless due to covered loss
- Seed contamination
Private crop hail insurance for hemp also available
2020 Program Dates
| Sales Closing | March 16 |
|---|---|
| Cancellation & Termination (Same as other spring crops) | March 16 |
| Production Reporting | April 29 |
| Final Planting Date | June 15 |
| Final Planting Date > Whole Plant/Floral | June 25 |
| Acreage Reporting | August 17 |
| Premium Billing | October 1 |
| End of Insurance Period Date | October 31 |