Apiculture Pilot Insurance (API)


What is API?

API offers beekeepers highly customizable protection against below average precipitation. Indemnity payments, based on the number of colonies insured, are triggered when precipitation for a specific area falls below the historic average during a specific time period.

Why Insure? 

All beekeepers are affected by lack of precipitation.

API is Smart: The USDA subsidizes premium amounts up to 59%, making this an affordable and beneficial tool for many beekeepers.

API is Simple: Precipitation and historic averages are determined by the National Oceanic and Atmospheric Administration (NOAA), which means data, not an adjuster, determines indemnity.

Why EastCo Group? 

We are rainfall index insurance experts

Each API policy can and should be different: Every beekeeper has a different level of risk tolerance and different goals. EastCo Group takes the time to understand these priorities first and then conducts a custom analysis to generate valuable and highly personalized data.

We understand the many details and the big picture. We walk you through the numerous decisions that must be made for each policy and then provide useful, timely policy updates throughout the year.

Policy Decisions

Number of Colonies: You can insure up to every colony you own.

  • Due to the mobile nature of apiculture, you can split your insured colonies between the various locations where they reside throughout the year.

Coverage Level: You can insure 70–90% of historic average precipitation. Precipitation must fall below your coverage level for a grid/interval to trigger indemnity.

Productivity Factor: You can value your colonies at 60–150% of the average value in the county. The amount of indemnity you receive is based on the productivity factor you select.

  • Average value of honey production, called the County Base Value, is set by the USDA

Intervals: You choose which two-month periods to insure during the year. Choose as few as 2 and as many as 6 of the 11 possible intervals in each grid.

  • Each interval is independent, meaning precipitation starts at zero for each interval (for example, rainfall in May has no effect on Jun–Jul)

API Timeline

  • September 1–December 1: Sign up/Renew for next year
  • January 1–December 31: API crop year
  • September 30: Premium due. Any indemnity received prior automatically goes towards the premium.

* This is an informational document only and results may vary by individual