Hemp Crop Insurance
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 |