Apiculture Insurance Programs
The USDA currently has an Apiculture insurance program offered nationwide. The program is the Apiculture Rainfall Index Program. Knowing that a lack of precipitation and forage growing conditions many times correlates to a reduction in honey production, the USDA is offering this program which covers a decline in precipitation.
Many beekeepers have implemented various risk management techniques to help alleviate some of the effects of drought; however, the beekeeping industry historically has not been able to participate in heavily subsidized federal crop insurance programs, like farmers have been able to do on their crops.
While the program is new and in pilot, you can take advantage of the available government subsidies (just like farmers do) and implement a solid risk management tool to help offset some of the effects of drought.
Broken Arrow Corp Insurance is an equal opportunity provider. In accordance with Federal law and U.S. Department of Agriculture (USDA) civil rights regulations and policies, the USDA, its Agencies, offices, and employees, and institutions participating in or administering USDA programs are prohibited from discriminating on the basis of race, color, national origin, religion, sex, gender identity (including gender expression), sexual orientation, disability, age, marital status, family/parental status, income derived from a public assistance program, political beliefs, or reprisal or retaliation for prior civil rights activity, in any program or activity conducted or funded by USDA (not all bases apply to all programs).
Education is the key.
Rainfall Index Program
- Only covers a decline in area precipitation
- Rainfall recorded by NOAA
Vegetation Index Program
- Covers a decline in forage growth
- NDVI data recorded by EROS
- RMA canceled program - no longer available
- Easy to understand
- USDA pays over half of the premiums
- Qualifying colonies = honey, pollination, and breeding
- Ability to only insure periods of the year that matter to your production
- No insurance adjustments needed
- Premiums not due until next September
- Provides more coverage than FSA-NAP
- Coverage Levels = 90, 85, 80, 75, 70%
- Select county values (PF) = 60 – 150%
- Do not have to insure all colonies
- Sign-up deadline is November 15th
The following is a graphical illustration of how this program would have performed for one of our contacts in the Billings, Montana area.
While premium rates, prices, and histories vary in every area and region, it is important to remember that the example illustrated is based on a typical operation near Billings, Montana.
It is important to remember that actual results each year vary.
Broken Arrow Crop Insurance can run these same types of scenarios for your beekeeping operation. These scenarios will increase your knowledge of the program and how it relates to your operation; thereby, maximizing the effectiveness of the risk management tool for your apiary.
We know that this program may not be for everyone, but we thought you should know about its existence. This program is sold via private insurance companies (not FSA).