Beekeeping Insurance

[BeeFarmer]

Does anyone have experience with purchasing insurance through USDA? From what I’ve read it looks like the beekeeper is paid out based on the amount of rainfall received where the colony is located compared to historical data. Basically if it rains less then it should then a beekeeper can submit a claim. I’d like to hear from a beekeeper with first hand experience because my gut is telling me there’s a catch somewhere I’m not seeing.

[apisbees]

Hi Beefarmer
I can not speak to the USDA insurance plan but welcome to the forum. I would be skeptical of an insurance plan that only factors one condition into the equation. To many rainy days that will effect the bees foraging time will also effect the quantity of the crop. A good location can turn into a poor producing area with the farmer switching crops. A short extreme heat wave of a few days can cause plants to stop excess nectar production but the rainfall average for the month will be near normal. The other factor it dose not address is price protection against low prices due to abundance production or cheep imports.
This being said I am from Canada and have no knowledge other than what I have read.

[riverbee]

beefarmer.........
where are you located?

[Bakersdozen]

BeeFarmer, there is a detailed article on beekeeping insurance in this month's issue of Bee Culture magazine, Oct. 2018.   It is entitled A Sweet Opportunity For Business Growth by Todd Harris.  The article gives a link, for more info on Rainfall Index Apiculture, ProAg.com/Apiculture.  I briefly looked at this website and the information seemed very similar to the article.
A possible catch?  Probably so.  Mostly the government will know what you have, where it is at, and how much.  This could be ground work for future taxation.  I don't want to sound like a conspiracy theorist or that I don't think I should pay taxes.    Just being realistic. 
As I am a hobbyist beekeeper, I am willing to assume any loss of honey crop due to insufficient rainfall.