Our Specialties
Customizing a risk management plan tailored to your financial success
Livestock Risk Protection
Livestock risk protection (LRP) has gained a lot of popularity over the last few years. The policy has been around for quite some time, but they revamped the program in 2021 increasing the subsidy levels which in turn made it more attractive for farmers. LRP covers you solely on a decline in market price for livestock, mainly cattle and swine. Farmers can select from a variety of insurance periods and coverage levels. From there, they can see the expected ending value (predictions for the market price at the end of the time period) and decide if they think that price point is worth insuring at. The prices change daily following the market so there isn’t one major deadline throughout the year, making this a unique product. Another major benefit to this product is you can virtually insure up to 100% of the value which is typically unheard of in crop insurance. LRP also does not require any major record keeping. Everything is tracked using area pricing so if the price falls below the expected ending value, an indemnity will be paid out. Since this product is subsidized, farmers are starting to turn to insurance to protect themselves on livestock rather than going through a broker. The example below shows a farmer who wants to insure 100 head of feeder cattle at 800 pounds each. The expected ending value for this timeframe is $180 per cwt.
Coverage – 200 head x 8 cwt x $180 = $288,000 of insurance coverage
Actual Value – 200 head x 8 cwt x $173 = $276,800
Indemnity = $11,200
Pasture, Rangeland and Forage
Ever wonder if you can have insurance on your perennial haying or grazing acres? Pasture, rangeland and forage (PRF) insurance has been around for a while, but surprisingly hasn’t gained traction nationwide. This policy is unlike any other where it covers you solely for a lack of rainfall in the area where your fields are. They compare the average rainfall all the way back to 1948 to what the current rainfall is for the time periods you select and if it falls below your guaranteed moisture level, you will collect an indemnity. I personally have wondered why more people don’t use this policy as it’s the most stress-free insurance option available. Acres are signed up in the fall and then moisture is tracked the whole following year. Farmers do not need to report any rainfall or yield information; a claim is automatically opened if the two-month interval that the farmer selected is short on moisture. Need another reason to look into the product further? This policy is unlike your traditional crop insurance policy because it allows you to pick and choose which fields to insure. Under a corn contract, any acre planted to corn in the county automatically must be insured. For PRF, you can just insure one field if you’d like. This insurance is still considered a pilot program so there may be changes in the future on it but as of now, it’s a great affordable option for farmers to make sure they’re protected against a shortage of hay or pastures due to lack of moisture.
Multi-Peril Crop Insurance
Protect your agricultural investments with our Multi-Peril Crop Insurance (MPCI), a comprehensive solution designed to shield your crops from a wide range of risks. This insurance covers losses due to natural disasters such as droughts, floods, hail, and excessive rainfall, as well as damage from pests and diseases.
Key Features:
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Broad Coverage: MPCI protects against multiple perils, ensuring you’re safeguarded from the unpredictable nature of farming.
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Flexible Plans: Choose coverage levels and options that fit your specific crop types and farming practices, allowing for tailored protection.
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Revenue Protection: In addition to yield loss, our plans can cover loss of revenue due to price declines, giving you peace of mind in volatile markets.
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Risk Assessment Support: Our team provides expert analysis to help you understand your risks and select the best coverage for your operation.
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Seamless Claims Process: Experience a straightforward claims process with dedicated support to ensure you receive the compensation you deserve quickly and efficiently.
With our Multi-Peril Crop Insurance, you can farm with confidence, knowing you’re protected against the unexpected. Secure your future today!