Crop insurance is purchased by agricultural producers, including farmers, ranchers, and others to protect themselves against either the loss of their crops due to natural disasters, such as hail, drought, and floods, or the loss of revenue due to declines in the prices of agricultural commodities.
PASTURE, RANGELAND, FORAGE
Growing forage that's used for grazing or harvested for hay is an important part of many farm and ranch crop rotations. Protect your ground crops from the heat and dry conditions with Pasture, Rangeland, and Forage (PRF) coverage from Pro Team Insurance.
The Risk Management Agency (RMA) offers two pilot risk management programs for PRF: Rainfall Index and Vegetation Index. These innovative pilot programs are based on vegetation greenness and rainfall indexes developed to provide livestock producers with the ability to purchase insurance protection for losses on forage produced for grazing or harvested for hay. How Does It Work? Special Fall Premium Payment Plan allows you to buy the protection you need for your crops in the spring while waiting until fall to pay the premium
How Does It Work?
The county base value per acre specified in the actuarial documents for each crop, intended use, and practice multiplied by the coverage level selected by the insured, and multiplied by the productivity factor selected by the insured. Only one dollar amount of protection per acre may be selected for each county and crop type.
Availability Rainfall Index: AL, AR, CA, Eastern CO, FL, GA, KS, MD, MN, MO, MT, ND, NC, NE, NY, OK, PA, SC, SD, TX, VA, WI Vegetation Index: AZ, Western CO, ID, NM, OR, UT, WY What are the benefits?
Insureds are not required to insure 100% of their acreage, but can pick and choose which fields to insure. However, they must report all of their insurable acres in a county.
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