diff --git a/minimum_versions/policy.py b/minimum_versions/policy.py
index a167c04..6dd144a 100644
--- a/minimum_versions/policy.py
+++ b/minimum_versions/policy.py
@@ -5,6 +5,7 @@
 import yaml
 from dateutil.relativedelta import relativedelta
 from rattler import Version
+from tlz.dicttoolz import valmap
 
 schema = {
     "type": "object",
@@ -115,7 +116,7 @@ def parse_policy(f):
         package_months=package_policy["packages"],
         default_months=package_policy["default"],
         ignored_violations=package_policy["ignored_violations"],
-        overrides=package_policy["overrides"],
+        overrides=valmap(Version, package_policy["overrides"]),
     )
 
 
diff --git a/minimum_versions/tests/test_policy.py b/minimum_versions/tests/test_policy.py
index bc2ab96..1e0decd 100644
--- a/minimum_versions/tests/test_policy.py
+++ b/minimum_versions/tests/test_policy.py
@@ -1,9 +1,11 @@
 import datetime as dt
+import textwrap
+from io import StringIO
 
 import pytest
 from rattler import Version
 
-from minimum_versions.policy import Policy
+from minimum_versions.policy import Policy, parse_policy
 from minimum_versions.release import Release
 
 
@@ -52,3 +54,57 @@ def test_policy_minimum_version(package_name, policy, today, expected):
     actual = policy.minimum_version(today, package_name, releases[package_name])
 
     assert actual == expected
+
+
+@pytest.mark.parametrize(
+    ["content", "expected"],
+    (
+        pytest.param(
+            """\
+            channels: [conda-forge]
+            platforms: [noarch]
+            policy:
+              packages:
+                numpy: 12
+              default: 6
+              overrides: {}
+              exclude: []
+              ignored_violations: []
+            """,
+            Policy(
+                {"numpy": 12},
+                6,
+                overrides={},
+                channels=["conda-forge"],
+                platforms=["noarch"],
+            ),
+            id="normal",
+        ),
+        pytest.param(
+            """\
+            channels: [conda-forge]
+            platforms: [noarch]
+            policy:
+              packages:
+                numpy: 12
+              default: 6
+              overrides:
+                scipy: "1.2.1"
+              exclude: []
+              ignored_violations: []
+            """,
+            Policy(
+                {"numpy": 12},
+                6,
+                overrides={"scipy": Version("1.2.1")},
+                channels=["conda-forge"],
+                platforms=["noarch"],
+            ),
+            id="overrides",
+        ),
+    ),
+)
+def test_parse_policy(content, expected):
+    f = StringIO(textwrap.dedent(content.rstrip()))
+    actual = parse_policy(f)
+    assert actual == expected