Colorado’s semi-arid climate can be unpredictable, presenting challenges for ranchers and livestock producers. Pasture, Rangeland, Forage (PRF) insurance is a vital tool that helps protect against weather-related forage shortages, ensuring the sustainability of your operation.
What is PRF Insurance?
PRF insurance offers financial protection when precipitation falls below historical averages, affecting forage availability. Instead of measuring actual forage production, it uses a rainfall index to track precipitation variations. If rainfall dips below normal during your selected periods, PRF insurance can offset potential losses.
How PRF Insurance Works in Colorado
Producers can choose critical intervals throughout the year based on their specific needs. For instance, ranchers in southern Colorado might insure against early summer dryness, while those in northern areas may focus on fall grazing. If rainfall falls short during these times, indemnity payments help compensate for reduced forage.
Benefits of PRF Insurance for Colorado Ranchers
Protect Against Below Average Rainfall: Provides financial support during dry spells when precipitation is below historical averages.
Customizable Coverage: Tailor coverage to fit your region’s unique weather patterns. PRF insurance is available for haying and grazing, and you can insure part or all your acres.
No Proof of Loss Required: Payments are automatic if rainfall is below average- no need for loss documentation.
Financial Security: Offers stability in Colorado’s unpredictable climate, ensuring resources for your operation.
How to Enroll in PRF Insurance
Enroll through crop insurance agents who will help you determine the best coverage based on historical precipitation and your operation’s needs.
Enrollment runs from mid-November to December 1 for coverage in the following year.
Why Consider PRF Insurance?
PRF insurance is essential for managing the risks tied to Colorado’s variable climate. By investing in this insurance, you safeguard your financial health and ensure your ranch remains productive, even when nature doesn’t cooperate.
Conclusion: Plan for the Unpredictable
Colorado’s unique climate demands proactive planning. PRF insurance is a flexible tool that helps you manage the ups and downs of forage production, protecting both your livestock and your bottom line. Contact your local insurance agent today to learn how PRF insurance can benefit your ranch.
Contact us Today!
Bobby Fisher
VP Crop Insurance
719-892-1677
Trista Gruntmeir
Crop Insurance Sales Specialist
719-892-1742
This blog post is for informational purposes only and should not be considered financial, legal, or investment advice. Any information contained in this post is subject to change without notice and should not be relied upon without seeking the advice of a qualified professional. The views and opinions expressed in this post are those of the author and do not necessarily reflect the official policy or position of our Association. The author and Association are not responsible for any errors or omissions and are not liable for any losses or damages arising from the use of the information contained in this post.