Insurance

[bigmanc]

Sheesh old thread. I had insurance. Crop not covered. Storage not covered. Must have security system and provide certificate. Suggested to call local police and upgrade response to level 4 (same as bank). 5 million in liability and 50k for equipment. Provide copies of production licenses. Affidavit of cultivation experience. If you did your own electrical another affidavit (provide pictures) Don’t bother with a broker, it was underwritten with Lloyds in the UK. Always dropping knowledge boys

 

[westcoast420]

Sheesh old thread. I had insurance. Crop not covered. Storage not covered. Must have security system and provide certificate. Suggested to call local police and upgrade response to level 4 (same as bank). 5 million in liability and 50k for equipment. Provide copies of production licenses. Affidavit of cultivation experience. If you did your own electrical another affidavit (provide pictures) Don’t bother with a broker, it was underwritten with Lloyds in the UK. Always dropping knowledge boys

Sounds like LMG when I left

 

[TheRealDman]

Sounds like LMG when I left

Yes...not sure if LMG is still active, but there are a few other Co’s out there, but they offer sketch coverage at best. The most recent point being, there are ZERO standard policies for ACMPR grows. Most peeps have standard policies, and those policies will be immediately voided for lack of disclosure of more than 4 plants. ANY claims that are filed that require inspection...well, ur fukd!

 

[johnnyboyee]

Yes...not sure if LMG is still active, but there are a few other Co’s out there, but they offer sketch coverage at best. The most recent point being, there are ZERO standard policies for ACMPR grows. Most peeps have standard policies, and those policies will be immediately voided for lack of disclosure of more than 4 plants. ANY claims that are filed that require inspection...well, ur fukd!

I just want to say that I was in a Hydro store in Northern Ontario the guy told me his house burned down recently with a medical grow of 200 plants. Apparently his young son was cooking. When I questioned him about insurance he said everything was covered even though he had not disclosed his acmpr grow. So that's only hearsay but it is something that I heard recently from an owner of a hydro store.

 

[TheRealDman]

So that's only hearsay but it is something that I heard recently from an owner of a hydro store.

They may have told you that, but it’s highly unlikely!

 

[GrowingRx]

Some heated topic this one is. fire! watch out!
Im in the finding insurance boat also.... and I have!
I have insurance with The Guarantee for "high risk/special" insurance as I own a rhd car. There are few companies in my province that will insure me because of this. 4 to be exact.

I have been told by my broker that my regular (not super expensive) house insurance covers my 4 "rec" plants...I do not even have to tell them as it is what is allowed by government rule. I asked to inquire about my medical limit since it goes over 4. My broker just got back to me and said "license will state how many plants you are allowed to have. In the case your limit supersedes the limit outlined below (4 plants).

Nothing needs to be added to my home insurance, i didnt even need to notify them. The only thing that they require? owner must be 19+ yrs old, personal use only, equipment must be purchased from a cannabis supplier (retail or wholesale)

I hope this helps some of you. Maybe ask your brokers to speak to this company. My only problem with them, they are a bit...slow.

Note; your company may have a different opinion. If something were to happen im sure you COULD fight it, that would be one hell of a fight. my hat is off to anyone who challenges that one.

edit: the plants are insured until they are harvested and the equipment falls under my content insurance.

 

[TheRealDman]

I asked to inquire about my medical limit since it goes over 4. My broker just got back to me and said "license will state how many plants you are allowed to have. In the case your limit supersedes the limit outlined below (4 plants).
Nothing needs to be added to my home insurance, i didnt even need to notify them.

Your broker is wrong...YOU MUST inform your standard insurance Co of an ACMPR grow. An ACMPR grow is a “material change” to the existing policy. ALL material changes must be reported so the company can be afforded the opportunity to adjust premiums or deny coverage.

 

[GrowingRx]

Your broker is wrong...YOU MUST inform your standard insurance Co of an ACMPR grow. An ACMPR grow is a “material change” to the existing policy. ALL material changes must be reported so the company can be afforded the opportunity to adjust premiums or deny coverage.

If my broker is wrong then so is the insurance company adjuster who told the broker that an hour ago. As far as I'm concerned, Im covered. I even have it an email stating that there is "no need to add anything, i will be covered as per my license." My premiums have not been denyed or adjusted...and they know.
Also, ACMPR rules are dead. New laws have come into effect to replace those laws, perhaps this is where confusion is? or perhaps my company is just ahead of some others.
Either way. They are happy, I am happy. All good.

edit: i get what you mean about the material change though, i have another property undergoing renovations that requires a walk-through so that they can adjust. just relaying my experience.

 

[gb123]

Also, ACMPR rules are dead. New laws have come into effect to replace those laws, perhaps this is where confusion is? or perhaps my company is just ahead of some others.

no they certainly are not
or have they changed for MMAR
all are under court order.

 

[GrowingRx]

no they certainly are not
or have they changed for MMAR
all are under court order.

My apologies. After going back to re-read the laws I stand corrected on the acmpr. I thought it had changed names to something else...again. Perhaps I was getting confused with the mmar to acmpr change. But I had thougt it changed again after legalization but couldn't find anything on it.

 

[Weedmama]

I found a company in bc, but they wanted me to change my mortgage and everything over to their company. And they were fairly new . I don't know man. It doesnt seem like your Goin to find a reasonable insurance to insure a grow without wild stipulations. If you find one let me know.... I was looking for a while and gave up.


Subbed

did you ever find one?

 

[Weedmama]

If I was growing tomatoes in my basement for example, at a reasonable scale, the insurance company would not be obliged to know. So why would you tell them about your legal ACMPR grow? It makes no sense. I know they are dirty slimeballs and would fight your claim regardless of HOW the fire started, but I don't think that is legal. They do have more money than most of us I would imagine to fight it though. Anyways if it comes to that I will fight them, I'm not doing anything I need to inform them of.

this is too on point!!!! I just wish I wasn't so honest and told my insurance broker.... who now is trying to be 'helpful' but no companies will take us on and they are now looking at commercial insurance what the actual! ah why did I say anything? but what is the point of paying insurance if it will be void anyway?

 

[Weedmama]

Some heated topic this one is. fire! watch out!
Im in the finding insurance boat also.... and I have!
I have insurance with The Guarantee for "high risk/special" insurance as I own a rhd car. There are few companies in my province that will insure me because of this. 4 to be exact.

I have been told by my broker that my regular (not super expensive) house insurance covers my 4 "rec" plants...I do not even have to tell them as it is what is allowed by government rule. I asked to inquire about my medical limit since it goes over 4. My broker just got back to me and said "license will state how many plants you are allowed to have. In the case your limit supersedes the limit outlined below (4 plants).

Nothing needs to be added to my home insurance, i didnt even need to notify them. The only thing that they require? owner must be 19+ yrs old, personal use only, equipment must be purchased from a cannabis supplier (retail or wholesale)

I hope this helps some of you. Maybe ask your brokers to speak to this company. My only problem with them, they are a bit...slow.

Note; your company may have a different opinion. If something were to happen im sure you COULD fight it, that would be one hell of a fight. my hat is off to anyone who challenges that one.

edit: the plants are insured until they are harvested and the equipment falls under my content insurance.

hey I tried to find this company but having a hard time do you have a link or contact number? this sounds like what I need

 

[The Hippy]

this is too on point!!!! I just wish I wasn't so honest and told my insurance broker.... who now is trying to be 'helpful' but no companies will take us on and they are now looking at commercial insurance what the actual! ah why did I say anything? but what is the point of paying insurance if it will be void anyway?

Yes this is a HUGE issue and highly unfair. This is the aftermath of "GROW HOUSE" problems they used to find.
Imagine the gov has made growing your own legal at the expense of losing your home to a insurance scam basically.
Yes legalization has been such a gift....assholes. They were before and still are.
Some provision should have been made for this fiasco.
It's almost like a punishment for growing what is legal to do. Complete bullshit. Yes they want you to buy a commercial policy.

 

[Weedmama]

Yes this is a HUGE issue and highly unfair. This is the aftermath of "GROW HOUSE" problems they used to find.
Imagine the gov has made growing your own legal at the expense of losing your home to a insurance scam basically.
Yes legalization has been such a gift....assholes. They were before and still are.
Some provision should have been made for this fiasco.
It's almost like a punishment for growing what is legal to do. Complete bullshit. Yes they want you to buy a commercial policy.

just such a bummer. trying to do the 'right' thing in life and blah their going to hit me for it.
honestly tho no point paying insurance if they wouldn't cover me anyway.
all such shit. my ACMPR is 100m away from my home in an entirely separate area, I even suggested just insure the home and not the garage. they worry went from fire to theft - its a big liability people will know its there and steal it. Wow really? fucking really?

 

[The Hippy]

just such a bummer. trying to do the 'right' thing in life and blah their going to hit me for it.
honestly tho no point paying insurance if they wouldn't cover me anyway.
all such shit. my ACMPR is 100m away from my home in an entirely separate area, I even suggested just insure the home and not the garage. they worry went from fire to theft - its a big liability people will know its there and steal it. Wow really? fucking really?

Well if you have a mortgage they require you to carry insurance. So if your mortgage company finds out you cancelled or the insurance cancelled coverage they will cancel your mortgage. One hand washes the other in this case and they ain't washing yours at all. It's a catch 22.

 

[The Hippy]

just such a bummer. trying to do the 'right' thing in life and blah their going to hit me for it.
honestly tho no point paying insurance if they wouldn't cover me anyway.
all such shit. my ACMPR is 100m away from my home in an entirely separate area, I even suggested just insure the home and not the garage. they worry went from fire to theft - its a big liability people will know its there and steal it. Wow really? fucking really?

You wanna keep the coverage to satisfy the mortgage company.

 

[westcoast420]

just such a bummer. trying to do the 'right' thing in life and blah their going to hit me for it.
honestly tho no point paying insurance if they wouldn't cover me anyway.
all such shit. my ACMPR is 100m away from my home in an entirely separate area, I even suggested just insure the home and not the garage. they worry went from fire to theft - its a big liability people will know its there and steal it. Wow really? fucking really?

Check my posts on this link, i just recently went through LMG which is one of the only companies that do med grow insurance. https://www.rollitup.org/t/house-insurance.1029386/page-2
Be prepared to be fucked in the ass excuse my language but thats what will happen, most likely 3-4x the cost of your current policy. Even tho weed is legal there is still a massive stigma with insurance companies. Most wont even insure you if you are growing 4 legal plants. I called my policy holder under another name and asked them and they just said we dont allow any cannabis plants with our policies. Too late now but you never ever mention cannabis to your insurer, its like a red flag that will go up and they will cancel your policy at the drop of a hat. So much for legalization

 

[The Hippy]

Check my posts on this link, i just recently went through LMG which is one of the only companies that do med grow insurance. https://www.rollitup.org/t/house-insurance.1029386/page-2
Be prepared to be fucked in the ass excuse my language but thats what will happen, most likely 3-4x the cost of your current policy. Even tho weed is legal there is still a massive stigma with insurance companies. Most wont even insure you if you are growing 4 legal plants. I called my policy holder under another name and asked them and they just said we dont allow any cannabis plants with our policies. Too late now but you never ever mention cannabis to your insurer, its like a red flag that will go up and they will cancel your policy at the drop of a hat. So much for legalization

So right on the mark it seems.
I'm curious on this Lloyd's of London info. They seem to have policies covering things like this. Price wise...no idea.
I just started researching this so don't know much yet.

 

[The Hippy]

Found this about Lloyds. Seems like it would maybe fit the bill. Unless they mention weed.

• Open Perils Policy (HO-5) - covers residential homes from everything unless it's listed in the policy as an exclusion. HO5 is considered one of the best plans for a homeowner since the coverage is extensive and open peril for both structure and contents.