Anyone have Drought Insurance (PRF)??

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jahmes143

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Hi all, newer member here. I'm considering buying Pasture Rangeland Forage (PRF) insurance. On paper, the it shows I would've actually made money on the policy over the past several years. The premium would be about $20k/year based on the coverage i selected, and the payout would've averaged about $35k/year over the past 10 years. Almost sounds "too good to be true" so I'm skeptical.

Located in Florida.

I was wondering if anyone else has this policy and would be willing to share their thoughts on premiums vs payouts. Thanks!
 
Is Florida typically dry, or have several month dry spells yearly? I'm looking into it myself, however west central Texas weather has a mind of its own.
 
This may be of interest to you…


WASHINGTON, May 15, 2017 — In response to a request from Debbie Folsom, Farm Service Agency's (FSA) acting State Executive Director in Florida, the U.S. Department of Agriculture (USDA) has designated 8 counties in Florida as primary natural disaster areas due to losses and damages caused by a recent drought. Those counties are:

Charlotte, DeSoto, Glades, Hardee, Highlands, Okeechobee, Osceola and Polk

Farmers and ranchers in the following counties in Florida also qualify for natural disaster assistance because their counties are contiguous. Those counties are:

Brevard, Hendry, Hillsborough, Indian River, Lake, Lee, Manatee, Martin, Orange, Palm Beach, Pasco, Sarasota, St. Lucie, and Sumter

All counties listed above were designated natural disaster areas on May 10, 2017, making all qualified farm operators in the designated areas eligible for FSA's emergency (EM) loans, provided eligibility requirements are met.

Farmers in eligible counties have eight months from the date of the declaration to apply for loans to help cover part of their actual losses.

FSA will consider each loan application on its own merits, taking into account the extent of losses, security available and repayment ability.

FSA has a variety of programs, in addition to the EM loan program, to help eligible farmers recover from adversity.

Other FSA programs that can provide assistance, but do not require a disaster declaration, include Operating and Farm Ownership Loans; the Emergency Conservation Program; Livestock Forage Disaster Program; Livestock Indemnity Program; Emergency Assistance for Livestock, Honeybees and Farm-Raised Fish Program; and the Tree Assistance Program.

Interested farmers may contact their local USDA service centers for further information on eligibility requirements and application procedures for these and other programs.

To find your local FSA office, go to https://offices.sc.egov.usda.gov/locato ... agency=fsa

Additional information is also available online at http://disaster.fsa.usda.gov

All the best.

Gene

Gene McAvoy
County Extension Director
Regional Vegetable Agent IV
UF/IFAS Hendry County Extension
PO Box 68
LaBelle, Florida 33975

863-674-4092 office
863-673-5939 cell
[email protected]
 
I take it out on my hay fields only and only for April-May and June-July periods. My thought is if I don't make hay during that time period, I will not make enough to carry me through the winter. I figure my premium at about what one good calf will bring at the sale. If I collect (it has paid one time in 3 years), it will help buy hay and get it shipped in.

I look at it like I do home insurance, you need it but really hope you do not use it.
 
dieselbeef":264m09ic said:
not many on this board fond of handouts....not a great first post....
Ahh...PFR insurance isn't exactly a handout since you are "ante in the pot" so to speak.

No I don't buy it.
 
NolanCountyAG":2rh0y2pk said:
Is Florida typically dry, or have several month dry spells yearly? I'm looking into it myself, however west central Texas weather has a mind of its own.

We are currently experiencing some exceptionally dry weather. The way I understand that program is it doesn't matter how dry it is, it only matters how dry it is relative to the same time periods in previous years. For example, if it rains 100" a year in a place on average, and this year it only rains 80", even though that's still a lot of rain, the policy might still payout since that's less rain than normal.

Gene - Thanks for that info. I will look into it more. And definitely not looking for a handout, more like a way to battle against this incredibly dry weather which has made my costs go way up.
 
im here in central fl..I feel yer pain...

I guess if ya pay for it as ins it isn't as bad as the emergency bailout I posted that came from the ext service...

the premium is 20k/yr?
 
dieselbeef":23f1oirg said:
im here in central fl..I feel yer pain...

I guess if ya pay for it as ins it isn't as bad as the emergency bailout I posted that came from the ext service...

the premium is 20k/yr?

Yea coverage I'm looking at is about $20k/yr. You can sort of adjust the numbers to get something you're comfortable with, like only insure part of the acreage, and a few other tweaks. Pasture is cheaper premium than hay, but payout is also less.

You do pay for it. But its also about 50% subsidized. So i can see points on both sides of the debate.

Just wondering if any of you guys (or gals) who have had the program for several years have found it worthwhile. It's relatively new in FL so no locals can really comment.
 
dieselbeef":2s8up8p1 said:
im here in central fl..I feel yer pain...

I guess if ya pay for it as ins it isn't as bad as the emergency bailout I posted that came from the ext service...

the premium is 20k/yr?
He's a dealing with larger numbers than we do ain't it dieselbeef.... :D
 
jahmes143":3mwwoptf said:
dieselbeef":3mwwoptf said:
im here in central fl..I feel yer pain...

I guess if ya pay for it as ins it isn't as bad as the emergency bailout I posted that came from the ext service...

the premium is 20k/yr?

Yea coverage I'm looking at is about $20k/yr. You can sort of adjust the numbers to get something you're comfortable with, like only insure part of the acreage, and a few other tweaks. Pasture is cheaper premium than hay, but payout is also less.

You do pay for it. But its also about 50% subsidized. So i can see points on both sides of the debate.

Just wondering if any of you guys (or gals) who have had the program for several years have found it worthwhile. It's relatively new in FL so no locals can really comment.

Here's our local dealer, good guy's and easy to work with. But anything subsided through the government is a ripoff to the taxpayers. Using a different name and or method to steal from my neighbors isn't for me.
 

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