Insurance coverage for Colorado Hemp Farmers
Adams Insurance Advisors offers a Hemp Crop Insurance program for Colorado hemp farmers.
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 acerage 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 is also available.
Deadlines for Hemp Crop Insurance
Sales Closing
Cancellation & Termination
(same as other spring crops)
Production Reporting
Final Planting Date
Final Planting Date>While Plant/Floral
Acreage Reporting
Premium Billing
End of Insurance Period Date
March 15
March 15
April 29
June 15
June 25
August 17
October 1
October 31
