Growers / Crop
The Four Twenty Insurance Group, LLC is able to provide medical marijuana growers with several options of coverage. There are three stages of the growing cycle that we are able to insure against. You are able to select one or all three stages for coverage. The three stages are:
- Living Plant Material: Seeds, Immature marijuana seedlings, marijuana plants in the vegetative growth stage and mature flowering plants rooted in the growing medium.
- Harvested Plant Material: Mature marijuana plant material no longer in the growing medium which are in the process of being dried.
- Finished Stock: Mature marijuana plant material no longer in the growing medium which has been completely processed and is ready for sale.
Coverage is available against the following perils:
Theft, Fire, Lighting, Explosion, Windstorm or Hail, Smoke, Vandalism, Automatic sparkler leakage from fire protection systems, water damage from accidental discharge of plumbing, heating or air conditioning devices and many more.
There are several underwriting guidelines that you must pass before a policy will be issued. The first component is that your facility must be inspected by a licensed electrical contractor confirming that the electrical architecture is adequate for our operations including power supply and number of circuits. The contractor must prepare a letter of approval that is required at the time of binding/ordering the insurance policy.
The second component is that you must have a security system installed and operating including a burglar alarm that reports to an outside monitoring station.
Third if you are requesting coverage for finished stock you must have a TL-15 or ½ ton safe bolted to the floor and motion detectors must be installed in the safe room location. Please make note that if you are not requesting coverage for finished stock there is no safe requirement.
To obtain a quote for coverage please complete the application or call us directly at 800-420-5757 you may also email us at app@420ins.com. As with any insurance policy there are numerous exclusions. Please contact The Four Twenty Insurance Group to discuss your specific needs.
