Crop Haven™ recognizes that the complexity and sophistication of equipment, controls, hardware and software being deployed by indoor and outdoor cannabis growers requires more protection than currently available by insurance carriers.

Crop Haven™ has contracted exclusively with a cannabis insurance specialist to provide unique, proprietary risk transfer for indoor and outdoor cannabis growers. The result is Crop Haven’s™ Over and Above Coverage™ protects growers, where the current insurance policy does not.

To date most insurance carriers have only provided unsatisfactory coverage for indoor and outdoor cannabis growers, with limited scope of coverage, inadequate limits and subtle exclusionary language which leaves insurers vulnerable to claims being denied.

Crop Haven’s™ Over and Above Coverage™ offers any indoor, outdoor, hemp or cannabis facility unique insurance coverage not available elsewhere, designed to sit ‘over and above’ the facility’s existing property coverage or replace it.

Crop Haven™ recognizes that the complexity and sophistication of equipment, controls, hardware and software being deployed by indoor and outdoor cannabis growers requires more protection than currently available by insurance carriers.

Crop Haven™ has contracted exclusively with a cannabis insurance specialist to provide unique, proprietary risk transfer for indoor and outdoor cannabis growers. The result is Crop Haven’s™ Over and Above Coverage™ protects growers, where the current insurance policy does not.

To date most insurance carriers have only provided unsatisfactory coverage for indoor and outdoor cannabis growers, with limited scope of coverage, inadequate limits and subtle exclusionary language which leaves insurers vulnerable to claims being denied.

Crop Haven’s™ Over and Above Coverage™ offers any indoor, outdoor, hemp or cannabis facility unique insurance coverage not available elsewhere, designed to sit ‘over and above’ the facility’s existing property coverage or replace it.

Crop Haven’s™ Over and Above Coverage™ includes unique ‘must have’ coverage to protect indoor and outdoor growers and processors from revenue loss, crop spoilage and repair or replacement costs in the event of any breakdown or failure of any grow related equipment.

In addition to covering parts and labor to repair or replace broken or failed equipment, any resulting spoiled crop will be reimbursed at wholesale price (not cost), and all salaries and business expenses (including funding payments) will be paid during the time required to re-grow the crop and/or repair or replace the equipment.

This is the ultimate form of business interruption and property coverage – not available elsewhere – ideal when working with perishable goods where equipment can malfunction, crops can spoil, and the loss could otherwise be difficult to recover from.

Equipment breakdown or failure and resulting crop spoilage is highly underestimated – many are under the impression that it won’t happen; however, if it does, a single unforeseen event is often more than enough to destroy the business.

Often, when equipment fails, crops are lost in the process and things add up quickly. To make matters worse, as long as the equipment is down, revenue is lost. Crop Haven’s™ Over and Above Coverage™ ensures business will be back to full operation as fast as possible.

Crop Haven’s™ Crop Spoilage coverage reimburses crops and plants at wholesale (not cost) if damaged or lost due to equipment breakdown or failure, environmental control / monitoring system malfunction, automated pump / compressor failure and interruption of service; whether seeds, seedlings / clones, vegetative or harvested plants (finished stock available).

Crop Haven’s™ Equipment Breakdown Coverage covers the cost to repair or replace broken or failed equipment caused by power surges, burnout, malfunction or user error; Equipment Loss Coverage is for damage from theft, fire, explosion, water and vandalism.

Crop Haven’s™ Business Income coverage pays all salaries, all business expenses, all funding and financing payments while business is suspended during the time required to either re-grow the spoiled crop, repair / replace the broken equipment or damaged or destroyed property.

Crop Haven’s™ Extra Expense coverage pays all unexpected expenses, namely those that would not have been incurred if there was no damage. These could otherwise be detrimental, such as having to run the business from a different location.

Crop Haven’s™ Over and Above Coverage™ includes mission critical protection – designed to provide coverage above and beyond the grower’s and processor’s current insurance policy – in fact, above and beyond what is currently available from other insurance carriers.

UNIQUE MUST HAVES

• Crop Spoilage Coverage protects indoor and outdoor crops against spoilage due to failure of any equipment, hardware, software, control or system.
• Equipment Breakdown Coverage protects against equipment breakdown due to accident, electronic circuitry impairment, power surges and mechanical breakdown.
• Equipment Loss Coverage protects indoor and outdoor grow and processing equipment and hardware against loss or damage from theft, fire, water, vandalism, etc.
• Business Income Coverage provides cash flow to cover all expenses, salaries and funding payments during business down-time periods resulting from a covered loss.
• Extra Expense Coverage covers the additional, unexpected expenses that would not have been incurred had there not been damage from a covered loss.

ALSO AVAILABLE

• Product Liability Coverage protects against cannabis related claims launched by the ultimate consumer who uses, ingests, consumes or inhales the product.
• Defense Fund Coverage provides funds to cover the costs of legal fees and expenses to defend against third party claims.
• Product Withdrawal/Recall Coverage helps cover the cost of recovery in the event a defect caused or might cause bodily injury or property damage.
• General Liability Coverage protects against the most common third-party claims, including bodily injury, property damage, advertising injury, reputational harm, etc.
• Cargo Coverage protects product being transported to customers, including liability for cargo that is lost or damaged, including both cannabis goods and cash/securities.

Crop Haven’s™ Over and Above Coverage™ is designed so growers can keep their existing property and casualty policy in place, UNTOUCHED, while benefiting from this unique coverage. Five years’ premiums are included within the monthly Cannabis Growth as A Service™ fee.

Over and Above Coverage™ is an integral part of Crop Haven’s™ Cannabis Growth as A Service™ funding. Armed with information provided initially by growers, we will determine the likely insurance costs and factor those into our preliminary ‘As A Service’ funding proposal.

Once Crop Haven™ receives the grower’s go-ahead interest, the exclusive insurance specialist partner’s licensed brokers will use the preliminary information, along with an interview with the grower, to evaluate risk exposures and provide Crop Haven™ an approximate cost.

Once the grower is comfortable with the overall Cannabis Growth as A Service™ deal presented, more detailed analysis and consultation will take place, so that the grower benefits from an in-depth review of risk mitigation and transfer options.

Crop Haven’s™ exclusive insurance specialist partner exclusively represents an A.M. Best top-rated carrier with 10 years’ experience in the cannabis industry, representing the longest running insurance provider for the cannabis industry.

Coverage options are as set out here and all insurance advice and transactions are carried out with our exclusive licensed insurance partner who will assist you in understanding what you are buying and why. Those same professionals will also be available to discuss any questions as well as assist in settlement of any valid claims.

Crop Haven’s™ exclusive insurance specialist partner has listed here the salient points of the policies, identifying coverage that reflects how seriously we take this need. Backed by carriers specialized in their fields, the policy language has been crafted to simplify interpretation and reassure you that they are indeed getting the risk transfer they had intended.

Crop Haven™ has contracted exclusively with a cannabis insurance specialist to provide unique, proprietary risk transfer for you through insurance policies designed specifically for the THC cannabis sector – who exclusively represents an A.M. Best top-rated carrier with 10 years’ experience in the cannabis industry, representing the longest running insurance provider for the cannabis industry.

This unique, proprietary program is designed to support you and protect your investment. To date the majority of carriers have provided unsatisfactory coverage for the THC cannabis industry with limited scope of coverage, inadequate limits and subtle exclusionary language which leaves insurers vulnerable to claims being denied.

Crop Haven’s™ exclusive insurance specialist partner will review the grower’s existing coverage to ensure compatibility with the Over and Above Coverage™.

Crop Haven’s™ exclusive insurance specialist partner has listed here the salient points of the policies, identifying coverage that reflects how seriously we take this need. Backed by carriers specialized in their fields, the policy language has been crafted to simplify interpretation and reassure you that you are indeed getting the risk transfer they had intended.

Most beneficial to cannabis growers and suppliers, crop insurance provides protection for the revenue-generating product being grown and sold and can cover plant risks prior to the sale. While you may implement other risk management tactics in an attempt to mitigate risk potential in each growth stage, crop insurance provides the necessary save-all in the event of unexpected and unintended damage to your cannabis crops.

Coverage and premiums for Crop Spoilage, Equipment Breakdown, Equipment Loss and Business Income is calculated using Crop Haven’s™ proprietary Crop Value and Projected Annual Sales Calculator from information provided by you – harvests per year, ounces per plant, average wholesale plant value, and the number of plants at each growing stage.

It is important to consider the entire plant life cycle prior to sale and all the potential for harm. The number of plants, as well as their value at each of the seed, vegetative, flowering and harvested stages are evaluated for their worth.

Crop Haven’s™ Over and Above Coverage™ should be purchased by cultivators growing indoors, outdoors and in greenhouses alike. Our indoor and outdoor crop coverage is extensive and includes a long list of covered perils. We are pioneering coverage for outdoor crop since this one of the hardest coverages to obtain and the availability is constantly evolving. Contact us to learn which option best suits your business.

Insurance Coverage is an integral part of our offering and armed with information provided in our initial discussions with you, we are able to determine likely insurance costs and factor those into our business model for your preliminary financial proposal.

In practice, analysis of preliminary information gathered by Crop Haven™ will enable our exclusive insurance specialist partner’s licensed brokers to evaluate exposures and provide Crop Haven™ an approximate cost which we build into the preliminary financing proposal.

Once you are comfortable with the overall deal presented, more detailed analysis and consultation takes place, so that you benefit from an in-depth review of risk mitigation and transfer options.

Coverage options are as set out here and all insurance advice and transactions are carried out with our exclusive licensed insurance partner who will assist you in understanding what you are buying and why. Those same professionals will also be available to discuss any questions as well as assist in settlement of any valid claims.