Pasture, Rangeland, and Forage Insurance
What is PRF? - Pasture, Rangeland, and forage insurance protects your operation during the months it's hampered by lack of rainfall by providing additional funds to offset the cost of feed or additional leased grazing land for cattle. PRF will also cover the cost of irrigation for perennial hay production.
How RI ( Rainfall Index) works - The PRF Rainfall Index plan covers land intended for haying or grazing. The rainfall index is a statistical measurement of the amount of rainfall that is based on historical data, collected from 1948 to present, by the National Oceanic and Atmospheric Administration Climate Prediction Center (NOAA CPC). This is an area insurance plan based on county boundaries and numbered grids defined by NOAA. Coverage payments are received when actual rainfall levels are below the average rainfall for that grid area. Coverage is broken up into two month time periods known as index intervals.
How coverage and pricing works - The producer chooses the percent of the county base value to insure the acreage at, between 60% and 150%. A rainfall trigger between 70% and 90% of the average rainfall is also selected by the producer. So the total dollar amount of coverage = Insured Acres x county base value x selected productivity level x the rainfall trigger selected by the producer. This provides flexibility by allowing the policy holder to select coverage that is specific to their operation's needs.
Subsidy - The PRF rainfall index insurance plan is subsidized just like other USDA crop insurance programs
- 70% coverage level gets a 59% subsidy
- 75% coverage level gets a 59% subsidy
- 80% coverage level gets a 55% subsidy
- 85% coverage level gets a 55% subsidy
- 90% coverage level gets a 51% subsidy
Our risk management methods and technology - Our insurance experts use cutting edge quoting technologies and strategic analysis to find gainful index intervals used to best customize the plan and individual coverage needs of your operation. This allows us to provide competitive pricing without sacrificing the quality of protection received by your operation.