Do You Have Pasture for Grazing or Haying?
September 26, 2018
Pasture, Rangeland, Forage Coverage
The pasture, rangeland, forage (PRF) insurance program is designed to provide coverage on your pasture acres. It’s based on a precipitation index and designed to give you the ability to cover replacement feed costs if – due to a lack of precipitation – a loss of forage for grazing or hay for harvesting occurs. Consider the following to determine if PRF is right for your operation:
- PRF is area-based, payments are not based on an individual’s pasture, but rather on an area’s deviation from normal precipitation.
- Insure your grazing or haying pasture by selecting two-month intervals to place your coverage. You can spread your coverage across different – but not consecutive – intervals. Coverage levels range from 70-90 percent.
- You are not required to insurance all your acres.
- No production reporting, record keeping, or loss adjustment is required.
- PRF is a federally subsidized product and has a 2019 sales closing date of Nov. 15, 2018.
Apiaries Buzzing About PRF
Did you know you can insure bee colonies using a PRF policy? In 2018, five policies in Illinois covered 90 colonies for a total of $12,756 in liability, according to the RMA Summary of Business.
Contact your local agent to insure your 2019 pasture acres or apiary with PRF protection.