PRF is a single peril policy designed to cover ground used for hay or grazing from lack of rainfall. The policy assumes that when rainfall is low, production is low, and it pays a farmer accordingly.
- Farmers elect which months they want coverage for
- Farmers elect how many acres or colonies to include in the program (not all acreage is required to be insured like most other insurance policies)
- There is little to no paperwork as claims are generated and paid automatically