Hemp & CBD business insurance covers liability for both ingestible & topical products. Visit Insurance Canopy for top rated liability insurance today! Get a quote for CBD & Hemp Insurance. Low minimum premiums for product liability, crop insurance, property insurance, and more. Ingestible & topical products welcome. With the explosion in CBD’s popularity, where are insurance plans on the matter?
CBD & Hemp Business Insurance
Protect Your Topical & Ingestible CBD Products
With Hemp Insurance
The CBD and hemp industry is quickly growing to new heights—and your products deserve the highest quality coverage. Insurance Canopy is here to help you navigate insurance requirements and offer customizable product liability insurance for CBD. We are dedicated to safeguarding your products and helping you navigate the risks involved. Our CBD Liability Insurance can cover ingestible & topical products that fall within the legal limits of 0.3% THC.
Apply In Minutes
Submit an application for CBD Insurance in minutes.
Customize Your Coverage
Your CBD insurance policy can be tailored to your product’s needs.
Grow Your Business
Meet, or exceed, industry CBD insurance standards.
Hemp Insurance Or CBD Insurance?
Whether your product is topical or ingestible, hemp or CBD, Insurance Canopy can cover both with one simple policy. We offer general and product liability insurance under the same coverage plan, as well as customizable protection for your tools and equipment, any employees you may hire, and rented properties.
Hemp products contain little to no THC while CBD products do. Our CBD & Hemp Insurance policy can cover products containing 0.3% of THC or less, such as lotions, gummies, oils, and more!
Topical CBD & Hemp Product Insurance
When it comes to protecting your topical products, such as soaps, creams, and balms, you want to be sure your policy can help you in the case of a product liability claim. If your product causes bodily harm to a customer after use, or even stains their property due to a faulty product leaking, you could be held liable for the cost of repairs, medical bills, and more.
Some of the product liability cases our CBD topicals liability insurance may cover you for include:
- Rashes or burns
- Property damage
- Defective or mislabeled products
You may be asking yourself, “Do I need to insure my topical products?” We recommend you do. Not only is it great protection for your business, it can also help you meet or exceed any retail requirements.
CBD and Hemp Insurance
CBD and Hemp-related business, such as farms, manufacturers, wholesalers, or retailers that are involved in the processing, manufacturing and selling of CBD/hemp products have unique risks associated with this industry.
We provide comprehensive insurance programs for companies in the CBD, or hemp industries. Our CBD/hemp program offers broad coverage options for low minimum premiums, including crop insurance, property insurance, product liability insurance, and inland marine coverage.
Our team can help you navigate the underwriting process of this complex industry.
Veracity is your CBD and hemp insurance solution.
Minimum Premium 2500
- Baby Skincare Products
- Beauty Accessories
- Essential Oils
- Hair Care Products
- Perfume & Body Fragrances
- Pre-Made Bases and Materials
- Skin Care Products
- Spa Supplies
- Topical Ointments
- Topical Products for Animals (Shampoos, Ointments, etc.)
- And Many More.
Minimum Premium 3500
- Most Ingestible Supplement, Herbal, or Vitamin Related Products
- Compounded Herbs
- Non-Compounded Herbs
- Energy Supplements
- Protein Supplements
- Body Cleansers
- Bodybuilding Supplements
- Topical Creams
- Weight Loss Products
- Pet Suppliments
- And Many More.
Do you need coverage options for ingestible CBD/hemp products?
We can help.
Veracity is committed to creating a positive experience for our customers and setting a higher standard on how business should be done. We value customer interaction, response and turnaround times, product knowledge, and compliance.
Our experience with general and product liability insurance, excess & surplus lines, in-house underwriting, and exclusive programs gives you the competitive edge you need.
6:00am – 6:00pm MT | Mon – Fri
Product Liability Experts
Exclusive programs with in-house underwriting and binding authority with A rated carriers
© 2013 veracityinsurance.com | All rights reserved.
All policies have conditions, limitations and exclusions, please read the policy for exact verbiage. Claim scenario circumstances vary in nature and similar claims do not guarantee coverage.
Does Health Insurance Cover CBD (Cannabidiol)
It came to people’s attention via a girl, Charlotte Figi who had horrific seizures (multiple per day).
CBD basically stopped the seizures where no medications were working.
Researchers then started to research CBD and found it influenced a system that we have naturally throughout our bodies.
The endocannabinoid system!
It appears to have an important role in balancing other key systems:
- Nervous system (neurotransmitters, mood, etc)
- Endocrine system (hormones, appetite, sleep, etc)
- Immune system (inflammatory response, autoimmune issues, etc)
Okay. so those ARE important.
CBD’s classification by the US government and FDA is an important hint at how health insurance will treat it.
What is it (in the eyes of the government)?
Is CBD a food supplement
The FDA actually has two different categories for CBD.
It recently approved the first CBD drug to treat seizures related to 2 rare diseases. This drug is called Sativex. It’s a purified version of CBD.
Otherwise, CBD sold on the market is treated as a food supplement.
In this way, the FDA does not have much regulation of it.
For that reason, it’s important to only use trusted brands with the following:
- 3rd party testing
- Specified CBD amounts in the product
- Solvent, pesticide, heavy metal, and bacteria/mold free
What about its legality?
Is CBD legal?
CBD is legal in all 50 states and the main brands will ship to all 50 states.
Its federal status is still catching up with the State’s designation of legal.
Leave it to the Feds to take forever on something that so many people are already purchasing legally at the State level.
Since the FDA has already designated it as a food supplement, it should be a matter of time for the Fed’s to catch up.
They are not showing any priority in going after CBD.
Again, there are very large companies that are legally shipping the product to all 50 States.
Canada and the EU are well ahead of us on this point.
How does health insurance treat CBD
Finally, the question you started with.
How does health insurance treat it.
If you are prescribed Sativex or other CBD-based medications that require prescription through your doctor, that will likely be covered.
If you are using CBD as a food supplement, it will likely not be covered.
Health insurance plans do not cover food supplements no matter how helpful.
Maybe they’ll start when they realize the cost savings for the entire health care system.
What about HSA’s?
Can I pay for CBD from my HSA plan
In general, HSA’s will not pay for food supplements.
The outlier may be if a doctor prescribes the supplement to address a health condition (such as B12 deficiency).
To be safe, HSA’s reimburse for substances prescribed by a doctor.
Here’s the actual verbiage from the IRS:
You can’t include in medical expenses the cost of nutritional supplements, vitamins, herbal supplements, ‘natural medicines,’ etc. unless they are recommended by a medical practitioner as treatment for a specific medical condition diagnosed by a physician. Otherwise, these items are taken to maintain your ordinary good health and aren’t for medical care.�
Until the medical field catches up with the CBD research, HSA reimbursement of CBD does not appear to be available.
In light of that, we need to find the most affordable source of safety screened, high purity CBD.
Do we expect health insurance to cover CBD in the future
Our guess is yes.
And not because they’re great guys who want to pay more.
If you can use CBD to adequately address psoriasis at $100/month versus one of the many autoimmune medications at $5000/month, which one do you think the health insurance carriers will go with?
The problem is that they’re beholden to the FDA and medical practice which moves very slow.
Most people don’t even know what CBD is!
Even more incorrectly associate it with marijuana and THC.
It’s going to require time for the establishment to catch up with the millions of people finding relief from CBD.
We’ll update as we get new information!
Call us at 800-320-6269 and we can go through any questions or run your health insurance quote. Thanks!
20 years of experience in the California health insurance market has taught us one thing. Competent and experienced guidance is INVALUABLE
We are licensed Covered Ca agents with in-depth knowledge of their plans, process, and tax credits.