As you’ve probably heard, in recent months, cannabis has now become legal in Canada and many people are thinking about growing their own. While you might think it’ll save you money in the long run, growing your own cannabis isn’t a decision you should make lightly. It’s important to be aware of the laws you need to abide by and of the impact that growing your own cannabis may have on your homeowner’s insurance.
Growing Cannabis in Homes and Condos
Adults are allowed to grow up to four plants per household as long as the seeds were purchased from a licensed retailer. Since there’s a limit to the quantity you can have on hand, anything exceeding that limit needs to be destroyed. You’re also not allowed to grow plants in any area of a home used for commercial purposes, and the location can’t be visible from a public place. Things get more complicated if you’re renting or living in a condo. In Alberta, you should be aware that rental agreements and condominium bylaws can override federal regulations.
What are the risks of growing pot at home?
An increased risk of house fires is the main safety concern when it comes to growing cannabis at home. This is because some specialized equipment that is commonly used, such as grow lights or grow tents, can put an additional strain on the electrical system or require altering the house’s wiring. In some cases, people may attempt to re-wire their home on their own to cut costs.
Can growing cannabis in your home affect property value?
Due to concerns about humidity damage or lingering odours from grow-ops, some buyers may be wary of purchasing a home that was once used to grow cannabis. Maintaining optimal growth conditions requires high humidity levels, which can cause damage if the house isn’t properly ventilated.
Work With a Broker to Find the Right Home Insurance in Edmonton
Most insurance companies have added wordings to their policies that allow the growing of up to 4 plants for personal use. At this time, there is no extra cost for growing cannabis in your home but you should always check with a licensed insurance broker if you plan on growing cannabis in your home to ensure this has not changed. Call us today to set up an appointment!