Caregiver Insurance
- Thread starter bcguy01
- Start date
ChronicClouds
Active Member
Yeah, The I've heard of warehouses "write off" entire crops for "mold" or "other issues". Then they just push it out the back door. And still collect the insurance $$$$. I'm not into fraud so I can't justify insuring electronics that usually last 5 years or more and come with a warranty. Maybe for a crop, but prob not.
sheapdog420
Active Member
Yep, I was researching them to see if our agency would represent them in my area. Fell through because our agency's owner doesn't like Lloyd's of London, the company that underwrites them. That's not because they are a bad company or anything, but rather the comissions that pay my salary are real small. So it was not worth the investment to pursue them. More and more insurance companies are starting to get the message. I anticipate within a few years a major company that's nationally recognized will jump into the fray, thus the remaining companies will as well creating competition and better prices. The company you are referring to I believe is Statewide MMD Insurance. They even have raid insurance as long as it's not federal raids.
Crop insurance is not a new thing. Farmers all over the world purchase crop insurance. It just hasn't been available for marijuana until now. Grow equipment is just like any other piece personal property, and is usually covered unless its use is for illegal activities. If it gets stolen your insurance company should replace it subject to a deductible, as long as you were growing tomatoes... Breakdown of a ballast or something like that is usually not a covered as its considered wear and tear(exclusion).
Any specifics you should contact your local independent insurance agent. Hope this helps.
Crop insurance is not a new thing. Farmers all over the world purchase crop insurance. It just hasn't been available for marijuana until now. Grow equipment is just like any other piece personal property, and is usually covered unless its use is for illegal activities. If it gets stolen your insurance company should replace it subject to a deductible, as long as you were growing tomatoes... Breakdown of a ballast or something like that is usually not a covered as its considered wear and tear(exclusion).
Any specifics you should contact your local independent insurance agent. Hope this helps.
cannawizard
Well-Known Member
*yea, ive heard some of this 'talk' from some dispense friends.. sounds goodanyone heard of the new insurance offered to care givers and dispensaries? it covers crop and equipment.
Michael Sparks
Active Member
there will always be loopholes, you just need to know how to use them to your advantage.
Michael Sparks
Active Member
What isn't fraud now? Its within the systems standards, or the loopholes wouldn't even exist.