What New Ranchers Need to Know about Pasture, Rangeland, and Forage Coverage (PRF)
Starting a ranch is exciting, but it has its challenges. One way to protect your new business is by using Pasture, Rangeland, and Forage (PRF) coverage. Knowing about PRF coverage early can be key to your success.
Here’s what you need to know:
What is PRF Coverage?
- PRF coverage is insurance that protects livestock and forage producers from financial losses that result from insufficient rainfall.
Benefits of PRF Coverage for New Ranchers
- Financial Stability: PRF coverage provides a safety net during dry seasons, helping you manage financial risks and giving you peace of mind as you start ranching.
- Operational Continuity: If rainfall decreases enough for an indemnity, the payment from the coverage can be used to cover the additional costs of replacing your forage needs, ensuring uninterrupted ranching activities.
- Risk Management: PRF allows you to concentrate on other important parts of your business without the stress of finding additional funds to support your livestock during unpredictable weather.
How PRF Coverage Can Benefit You
- Early-Stage Support: Cash flow is essential for new ranchers. PRF coverage helps financially when lack of normal precipitation occurs, letting you reinvest in your farm.
- Future Protection: PRF coverage helps ranches better handle weather changes and supports future growth.
Key Considerations
- Customizable Plans: You can tailor the coverage to your ranch’s specific needs, ensuring it aligns with your operational goals.
- Proactive Planning: Think about adding PRF coverage to your overall risk management plan for both immediate needs and future stability.
Using PRF coverage helps secure your ranching future. Talk to a Momentum Ag agent to create a coverage plan that fits your ranching needs.
To learn more, visit momentum.ag.