Livestock Risk Protection (LRP)
LRP insurance is designed to give producers downside price risk protection. Due to volatility in the market, interest in price risk protection has increased. In the past, producers have used futures/options trading or forward contracts to manage the risk. The livestock covered with LRP are:
- Feeder Cattle, Fed Cattle, Swine and Lambs
With LRP, you can select coverage level, price, and the insurance period that best matches your marketing cycle. Livestock can also be insured in weekly increments from 13 weeks to 52 weeks when selecting the expected sale dates for cattle.
Complete Herd Coverage
This coverage allows an individual to purchase protection for an entire herd of cattle. This policy will provide coverage for your cattle and cattle owned by others in your care, custody and control. Coverage may be extended to pay expenses for recovery of livestock that escaped because of a covered loss. There are additional endorsements available for calves born during the policy term.
Livestock for the Show Ring
We know that a lot of work goes into raising show animals. Insurance coverage is available to protect your investment. We offer Limited Mortality Insurance and Full Mortality Insurance to insure your animals.
Limited Mortality Insurance: This policy will provide coverage for death of an animal due to named perils listed below. Please note that no other causes of loss are covered under this policy.
- Fire
- Lightning
- Explosion
- Smoke
- Windstorm or Hail
- Riot or civil commotion
- Vehicles, meaning only physical contact with a vehicle that is not transporting the animal
- Aircraft, or objects falling from an aircraft
- Upset, overturn or collision of a transporting vehicle
- Collapse of bridges, trestles, roadways, docks, piers, wharves or bulkheads
- Stranding, sinking or collision of a waterborne vessel while transporting the animal
- Flood
- Earthquake
- Electrocution
- Drowning
- Accidental Shooting
- Physical attack by dogs or wild animals
- Collapse of buildings, barns or sheds.
- Theft, excluding mysterious disappearance.
Full Mortality and Theft Insurance: This policy provides coverage for all of the above named perils PLUS for death of an animal resulting from accident, sickness, disease and humane destruction (i.e. broken leg, lameness, and other illnesses). Theft coverage (excluding straying or mysterious disappearance) is included. The only causes of loss not covered under the Full Mortality are neglect, intentional destruction, pre-existing health conditions and war.
Rodeo Livestock
This type of coverage protects livestock that are used to compete in rodeo circuits. We offer Limited Mortality and Full Mortality insurance coverage options.
Performance Equine
Owning a horse can be an expensive venture. A horse that becomes seriously ill can cost you a fortune in vet bills. Should the worst happen and your horse doesn’t make it, you will not only be emotionally devastated, but you will lose your financial investment as well. If your horse is stolen and not recovered, you’ll be without a horse and without the funds to buy another.
One way to help protect your horse and your pocketbook is to purchase equine insurance. The right plan will help diffuse costs if your horse becomes sick and will reimburse you for his value if your horse dies or is stolen. We offer Full Mortality and Limited Mortality to cover your investment.
Major Medical is a coverage endorsement as an addition to your Full Mortality Policy. After the deductible (which can vary) the coverage will pay all reasonable and customary charges of a licensed veterinarian which is necessitated by accident, illness, disease or injury.
Loss of use is available only as an addition to the Full Mortality Policy and Major Medical Endorsement. If during the policy the horse shall become totally and permanently unable to perform the first use specified in the policy due to accident, injury, illness or disease; and destruction for humane reasons is not required, you may elect to make a claim.
