prf rainfall insurance

prf rainfall insurance for ranchers

    Pasture, Rangeland, and Forage (PRF) insurance is often referred to as “rainfall insurance” because PRF coverage is based on an assumed correlation between rainfall and forage yields, rather than an actual measurement of your forage yield itself. With a PRF policy, you can receive indemnity payments when rainfall in your covered area is below the 70-year average during your insured intervals. 

    PRF insurance is meant to supplement your financial losses caused by lower-than-normal precipitation and give you the flexibility to purchase hay, upgrade equipment, or even just contribute to your savings account to invest in the future of your ranch.

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    optimizing your PRF Policy with
    Redd Summit Advisors

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    optimized prf policies

    With Redd Summit Advisors, you can optimize your PRF insurance policy’s performance by strategically identifying the best grids and intervals when placing your coverage.

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    leading technology

    Your land will be analyzed using Redd Summit’s industry-leading software to generate hundreds of thousands of policy simulations. From there, you can choose a policy with the right combination of grid allocation and coverage intervals to maximize your potential for an indemnity payment.

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    Receive an Indemnity Payment when
    Rainfall is Low

    Any indemnity payment you receive will be issued automatically when rainfall on your covered land is below the 70-year average during your coverage interval. You will never have to submit a claim or meet with an adjuster. An indemnity payment is yours to use however you choose to invest in your operation. 

    Moreover, your indemnity will go towards your premium first, and when that balance is satisfied any remaining payment goes straight to you with no up-front or out-of-pocket costs.

    How Rainfall Insurance Through PRF Stays Affordable

    PRF insurance is a USDA-subsidized program included in the crop insurance category of Title XI in the Farm Bill. 

    Because of the subsidy, a portion of covered ranchers’ premiums are paid for by the US Federal Government. Meaning you will not be on the hook for the entire balance of your premium. And again, there is no premium required up-front. Plus, your premium may be covered by your indemnity payments completely.

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    How to Sign Up for Rainfall Insurance with a PRF Policy

    To receive a no-obligation policy preview from Redd Summit, you simply need to tell us where you are located and how many acres you run on by filling out our online form. Or, you can give us a call at (435) 625-1022 to speak with an agent and learn more about how PRF insurance can benefit your operation. 

    You owe it to yourself and your ranch to at least get the numbers and make sure you aren’t leaving money on the table during a dry year.

    How is PRF Insurance Based on Rainfall?

      Your PRF policy relies on NOAA rainfall data in your area to determine if your covered land grids received less rainfall than average during your coverage intervals. 

      All of the United States is divided into approximately 13- x 17-mile grids and each of these grids has its own rainfall index reflective of the rainfall received with respect to the historic average during each two-month interval of the year (Jan. - Feb., Mar. - Apr., etc.). 

      On your land, your PRF coverage is placed into specific grids and intervals of your choosing, and their coinciding rainfall data is reported to your PRF policy. Then, if the data determines that your covered area’s grids received less than the 70-year rainfall average during your covered interval, an indemnity payment will be triggered by your PRF insurance to supplement your forage loss.

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      prf rainfall insurance FAQs

      What is rainfall insurance?

      Pasture, Rangeland, and Forage (PRF) is rainfall insurance. It protects your land from rainfall volatility and triggers indemnity payments when rainfall in your area is lower than average.

      When does PRF coverage start?

      Coverage begins on January 1 and is allocated throughout the calendar year based on the historic rainfall data in your area.

      How is the rainfall measured?

      NOAA calculates rainfall data at your four closest rain stations. Data is finalized 60-80 days after the end of a coverage interval. After this, the AIPs apply appropriate indemnity amounts or issue checks if your premium is paid off.

      Why choose Redd Summit as your PRF provider?

      With Redd Summit's specialty software, you can be assured that your coverage is strategically placed to optimize your policy's performance and maximize its potential benefit to your operation.

      Get a free policy preview

      Find out how PRF would perform on your land this year without having to sign up!

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