Honey Insurance provides coverage for hives managed for the sole purpose of honey production. Indemnities are calculated when there is a loss of production resulting from naturally occurring perils.
Honey Insurance is divided into 4 Risk Areas across the province and coverage and premium is based on these Risk Areas. Clients can elect coverage levels of 50, 60, 70 or 80 per cent.
All honey producing hives must be insured and there is a minimum eligibility requirement of 100 hives. Hives that are overwintered outside of Alberta must be back in the province by May 31 and reported on the Hive Yard Location form supplied by Agriculture Financial Services Corporation (AFSC).
Hives may be subjected to an acceptance inspection in the spring by AFSC to determine if hives are strong and viable.