WeatherBill FAQ
Pricing and Buying Contracts
Can I buy contracts that pay me for other types of weather
like floods, humidity, or wind?
Is there a way to price contracts based on more than one weather measurement?
Why isn't my hometown on the list of cities?
Where are the weather stations located?
What exactly do maximum, minimum and average daily temperature mean?
Can I choose any dates I want for a contract period?
Can I exclude holidays from my contract?
Do contracts include the start and end dates?
How should I choose my payment limits?
How is my contract's payout determined?
I got a quote for a contract that I want to buy, but it's too expensive. How can I make it cheaper?
I priced a contract yesterday. Why can't I buy it today?
I priced a contract yesterday, then priced it again today and got a different price. What's going on?
How can I pay for my WeatherBill contract?
Why can't I buy more than five contracts at once?
What is the refund policy for WeatherBill contracts?
I have more questions. How can I contact you?
Can I buy contracts that pay me for other types of weather like floods, humidity, or wind?
We currently only offer contracts based on temperature or precipitation measurements.
Is there a way to price contracts based on more than one weather measurement?
Currently you can only price contracts based on one weather measurement. We're working on making it possible to use more than one measurement, and hope to make it available soon.
Why isn't my hometown on the list of cities?
We currently sell contracts based on weather data from stations in 200 US locations. If you can't find your hometown on the list, look for the city nearest you, or enter your Postal/ZIP code and we'll identify the nearest station.
Where are the weather stations located?
Almost all of the weather stations that supply data to WeatherBill are located at airports in the cities listed on the pricing pages. A few are located at parks, universities, or military bases. The weather station data is provided to WeatherBill via EarthSat, a third-party independent "auditor" of weather data.
What exactly do maximum, minimum and average daily temperature mean?
Minimum and maximum are the lowest and highest temperatures recorded over the entire 24 hours (midnight-to-midnight) of the day. The minimum daily temperature usually occurs overnight. Average daily temperature is simply the midpoint of minimum and maximum. Most contracts traded today are priced using the average daily temperature measurement.
Can I choose any dates I want for the contract period?
A contract start date must be between four days and one year from the purchase date. Contracts can range in length from one day to six months. You can choose to include only weekdays, only weekends, or all days of the week in your contract.
Can I exclude holidays from my contract?
It's currently not possible to exclude holidays from your contract.
Do contracts include the start and end dates?
Yes, both the start date and end date are included. If you want a contract for a single day, the start date and end date should be the same.
How should I choose my payment limits?
You must select the number of days that meet your specified condition must occur before your right to receive payment begins. The higher this number, the lower the price of your Weather Contract. Choosing a small number of days before payment will result in a larger payout when the contract settles, but will also increase the contract's initial price.
You must also specify the maximum amount that the contract will pay out. The default value is determined by the length of the contract, but you can make it lower, if you choose. Decreasing the maximum payout can help to decrease the price of the contract.
How is my contract's payout determined?
The payout of your contract is calculated by WeatherBill using settlement data supplied from EarthSat, an independent provider of weather data. EarthSat provides a similar service for financial instruments that trade on the Chicago Mercantile Exchange. During the term of your Contract and when your Contract settles, you will receive a full report showing the audited settlement data that was used to settle your Contract.
I got a quote for a contract that I want to buy, but it's too expensive. How can I make it cheaper?
There are several things you can try. The most direct way to lower the price of your contract is to lower the payout amount. You can also increase the point at which the contract starts to pay out (i.e. increase the number of "rainy days" before payout begins). Another option is to change the daily reference value. For example, you might choose to get paid for days with over 0.25 inches of rain instead of days with more than 0.1 inches of rain. You can also try setting a lower maximum payout for the contract.
I priced a contract yesterday. Why can't I buy it today?
Quoted prices expire after two hours. As long as the contract starts at least three days from now, you will still be able to buy it after getting an updated price. Go to your My Accounts page, and click the "Re-Quote" button for the Contract you would like to re-price. Based on the newly updated price, you may make a purchase decision.
I priced a contract yesterday, then priced it again today and got a different price. What's going on?
Prices of contracts will change frequently due to a number of factors, including WeatherBill forecast data, weather simulation, and recent Contract sales.
How can I pay for my WeatherBill contract?
If your WeatherBill account is in US dollars, you can pay for a contract with credit card, check, or wire transfer.
If your account is in Canadian dollars, your account must be funded by check or wire transfer before you can make a purchase.
Checks can be mailed to:
WeatherBill Inc.
420 Bryant Street
San Francisco, CA 94107
Please clearly indicate your email address on the face of your check. Please note that funds deposited by check will be available as soon as the check clears, which can take up to three business days after the deposit date.
To pay by wire transfer please log in to your account and follow the wire transfer instructions under the Transfer Funds section of your My Profile page.
Why can't I buy more than five contracts at once?
WeatherBill currently allows a maximum of five "active" contracts per account. An "active" contract is one that has been purchased but not settled. As WeatherBill grows, we anticipate that this number will increase.
What is the refund policy for WeatherBill contracts?
All sales are final. We do not offer refunds.
I have more questions. How do I contact you?
If you can't find the answers you need here, they may be in the General Information, WeatherBill Tools, or Accounts and Payout sections. If you can't find your answer there, send us an email or give us a call at 888-WB4-RISK (888-924-7475). If you are calling from Canada, please call (415) 986-4453.
Is there a way to price contracts based on more than one weather measurement?
Why isn't my hometown on the list of cities?
Where are the weather stations located?
What exactly do maximum, minimum and average daily temperature mean?
Can I choose any dates I want for a contract period?
Can I exclude holidays from my contract?
Do contracts include the start and end dates?
How should I choose my payment limits?
How is my contract's payout determined?
I got a quote for a contract that I want to buy, but it's too expensive. How can I make it cheaper?
I priced a contract yesterday. Why can't I buy it today?
I priced a contract yesterday, then priced it again today and got a different price. What's going on?
How can I pay for my WeatherBill contract?
Why can't I buy more than five contracts at once?
What is the refund policy for WeatherBill contracts?
I have more questions. How can I contact you?
Can I buy contracts that pay me for other types of weather like floods, humidity, or wind?
We currently only offer contracts based on temperature or precipitation measurements.
Is there a way to price contracts based on more than one weather measurement?
Currently you can only price contracts based on one weather measurement. We're working on making it possible to use more than one measurement, and hope to make it available soon.
Why isn't my hometown on the list of cities?
We currently sell contracts based on weather data from stations in 200 US locations. If you can't find your hometown on the list, look for the city nearest you, or enter your Postal/ZIP code and we'll identify the nearest station.
Where are the weather stations located?
Almost all of the weather stations that supply data to WeatherBill are located at airports in the cities listed on the pricing pages. A few are located at parks, universities, or military bases. The weather station data is provided to WeatherBill via EarthSat, a third-party independent "auditor" of weather data.
What exactly do maximum, minimum and average daily temperature mean?
Minimum and maximum are the lowest and highest temperatures recorded over the entire 24 hours (midnight-to-midnight) of the day. The minimum daily temperature usually occurs overnight. Average daily temperature is simply the midpoint of minimum and maximum. Most contracts traded today are priced using the average daily temperature measurement.
Can I choose any dates I want for the contract period?
A contract start date must be between four days and one year from the purchase date. Contracts can range in length from one day to six months. You can choose to include only weekdays, only weekends, or all days of the week in your contract.
Can I exclude holidays from my contract?
It's currently not possible to exclude holidays from your contract.
Do contracts include the start and end dates?
Yes, both the start date and end date are included. If you want a contract for a single day, the start date and end date should be the same.
How should I choose my payment limits?
You must select the number of days that meet your specified condition must occur before your right to receive payment begins. The higher this number, the lower the price of your Weather Contract. Choosing a small number of days before payment will result in a larger payout when the contract settles, but will also increase the contract's initial price.
You must also specify the maximum amount that the contract will pay out. The default value is determined by the length of the contract, but you can make it lower, if you choose. Decreasing the maximum payout can help to decrease the price of the contract.
How is my contract's payout determined?
The payout of your contract is calculated by WeatherBill using settlement data supplied from EarthSat, an independent provider of weather data. EarthSat provides a similar service for financial instruments that trade on the Chicago Mercantile Exchange. During the term of your Contract and when your Contract settles, you will receive a full report showing the audited settlement data that was used to settle your Contract.
I got a quote for a contract that I want to buy, but it's too expensive. How can I make it cheaper?
There are several things you can try. The most direct way to lower the price of your contract is to lower the payout amount. You can also increase the point at which the contract starts to pay out (i.e. increase the number of "rainy days" before payout begins). Another option is to change the daily reference value. For example, you might choose to get paid for days with over 0.25 inches of rain instead of days with more than 0.1 inches of rain. You can also try setting a lower maximum payout for the contract.
I priced a contract yesterday. Why can't I buy it today?
Quoted prices expire after two hours. As long as the contract starts at least three days from now, you will still be able to buy it after getting an updated price. Go to your My Accounts page, and click the "Re-Quote" button for the Contract you would like to re-price. Based on the newly updated price, you may make a purchase decision.
I priced a contract yesterday, then priced it again today and got a different price. What's going on?
Prices of contracts will change frequently due to a number of factors, including WeatherBill forecast data, weather simulation, and recent Contract sales.
How can I pay for my WeatherBill contract?
If your WeatherBill account is in US dollars, you can pay for a contract with credit card, check, or wire transfer.
If your account is in Canadian dollars, your account must be funded by check or wire transfer before you can make a purchase.
Checks can be mailed to:
WeatherBill Inc.
420 Bryant Street
San Francisco, CA 94107
Please clearly indicate your email address on the face of your check. Please note that funds deposited by check will be available as soon as the check clears, which can take up to three business days after the deposit date.
To pay by wire transfer please log in to your account and follow the wire transfer instructions under the Transfer Funds section of your My Profile page.
Why can't I buy more than five contracts at once?
WeatherBill currently allows a maximum of five "active" contracts per account. An "active" contract is one that has been purchased but not settled. As WeatherBill grows, we anticipate that this number will increase.
What is the refund policy for WeatherBill contracts?
All sales are final. We do not offer refunds.
I have more questions. How do I contact you?
If you can't find the answers you need here, they may be in the General Information, WeatherBill Tools, or Accounts and Payout sections. If you can't find your answer there, send us an email or give us a call at 888-WB4-RISK (888-924-7475). If you are calling from Canada, please call (415) 986-4453.