Farmers and businesses that haul cargo face perils specific to their industries. Sebrite Agency in Minnetonka, Minnesota, specializes in helping these unique businesses get the coverage they need to help facilitate ongoing financial success.

What Is Cargo Insurance?

Companies that routinely haul cargo for others may benefit from purchasing a cargo policy. This insurance coverage helps pay for damages to goods if they are lost or damaged in transit.

If your business hauls products for compensation, you may be rated differently by the insurance company; this type of activity may be considered a higher risk than if you moved your own products. Your agent can help you evaluate your situation and recommend coverages that best meet your needs.

What Is Crop Insurance?

Crop insurance provides financial protection for agricultural producers and farmers against the loss of crops if extreme weather ruins a potential harvest. Floods, drought and hail are beyond your control, but crop insurance may help limit your risk.

There are two main types of crop insurance available for farmers:

·       Multiple peril crop insurance (MPCI). This policy helps cover crop yield loss resulting from natural causes, such as excessive moisture, unusually hot weather, disease or drought.

·       Crop-hail insurance. This policy provides financial protection against crop damage due to fire, wind, hail, fire, theft, vandalism and other perils.

What Coverage Is Available for Transporters of Cannabis?

Cannabis transporters face numerous risks when moving cargo. Several insurance policies may help provide financial protection. Depending on the nature of your business and your transportation needs, your agent may recommend the following coverages:

·       Commercial auto insurance. This policy provides several protections, including liability coverage if the driver of your vehicle is at-fault in an accident. Minnesota requires companies that use vehicles for business reasons to carry the minimum auto liability coverage. Depending on your needs, your policy may also include collision insurance and comprehensive insurance.

·       Cargo insurance. This policy may provide coverage if your cargo is damaged during loading, unloading or transit. It may also provide coverage if the damage results from a covered event, such as a storm, fire or collision.

If your business is involved in the legal cannabis industry, it’s vital to talk with your agent about getting appropriate insurance coverage. Here are some additional policies that may be necessary, depending on your company’s activities:

·       Product liability insurance

·       Recall insurance

·       Commercial property coverage

·       Loss of income

·       General liability insurance

·       Inventory insurance

·       Crop coverage

·       Cargo coverage

·       Directors and officers insurance

Laws regarding cannabis growth, sales and transportation may apply to your situation. Transporters of cannabis in Minnesota are subject to various state laws both in their home state and when transporting their products across state lines.

Please note that this information is not a suitable substitute for legal advice. Talk with your agent about specific policies that may help protect your company’s financial interests.

Get the Specialized Insurance Coverage You Need, Today

The agents at Sebrite Agency are well-versed in the types of insurance you may need to help protect your company. Contact us today to get more information about your options and get a quote.