CLN Business Highlight: CKP Insurance

You insure your personal belongings, vehicles, boats, and your life, so why not insure for drought protection on your ranch? CKP Insurance exclusively offers something called Pasture, Rangeland, and Forage Insurance and was created to help protect your operation from the risks of forage losses that are produced for grazing or harvested for hay, resulting in increased costs for feed. CKP Insurance insures ranches and farms all over the country, including the Navajo Nation, Diamond A Ranches, and several other tribal ranch lands in the southwest.

CKP Insurance is so trusted in the industry, that 12x Stock Contractor of the Year, Chad Berger has them on his sponsorship team. Talk about a perfect partnership! In addition, they’re a leader in giving back to the communities they support. A great example of this is the Navajo County Fair and Rodeo, where they purchase several of the FFA animals that go to auction in order to support the kids raising them. One thing we like to see in companies we support is the aspect of giving back and CKP Insurance checks the box for that.

Support for Navajo Nation Agriculture

You might be wondering what insurance has to do with the ongoing development of the Navajo Nation’s Agriculture sector. Well, it has a lot to do with it! Thanks to Navajo Nation partner, CKP Insurance, the Navajo Nation has received several million dollars over the course of the last several years for their insurance policy for Pasture Rangeland Forage insurance. What’s amazing about this is the fact that the money goes right back into agriculture programs in Navajo Nation. Aiding in the disbursement of those funds, the Agriculture Infrastructure Fund was established to use any remaining indemnity payments in excess of the amount necessary to guarantee the subsequent Crop Year’s insurance premiums to fund and implement agriculture infrastructure projects on the Navajo Nation. In addition to the AIF, the Livestock Management Incentive Program is designed to assist Navajo Ranchers during the ongoing drought who are using the best management practices and to encourage ranchers to reduce and maintain their livestock herd numbers to permitted levels current range carrying capacity levels.

Pasture, Rangeland, Forage Insurance

A service of the USDA Risk Management Agency

But what about the insurance they offer? Let’s dive into it! The Risk Management Agency’s (RMA) Pasture, Rangeland, Forage (PRF) Insurance Program is designed to provide insurance coverage on your pasture, rangeland, or forage acres. This innovative program is based on precipitation using the Rainfall Index. This program is designed to give you the ability to buy insurance protection for losses of forage produced for grazing or harvested for hay, which result in increased costs for feed, destocking, depopulating, or other actions.

What are the benefits?

• The program is very affordable because the government subsidizes 51%-59% of the premium.
• Premiums are not due until October 1 of the crop year.
• There are no claim forms.
• No adjusters are needed. Your claims are paid automatically based on data from NOAA CPC.

How Does it Work?

When you sign up for coverage under this program, you are protected against losses due to lack of rain. Payment for losses is determined based on the Rainfall Index, which is a comprehensive dataset of precipitation amounts throughout the country. Because indemnity is not calculated based on actual crop production, claims may be automatically processed without the need for adjusters.

Participation in this program is very simple. With the help of a Trusted Risk Advisor, you will choose the grids in which your eligible land resides. You then choose two or more separate index intervals during which precipitation is important to your operation. For each grid you have elected to cover, actual precipitation amounts are compared to the trigger grid indices. If any of the grids had rainfall less than the trigger index, you may receive an indemnity.

Where is This Program Available?

PRF is available in the 48 contiguous states with the exception of a few grids that cross international borders. At CKP Insurance, they are dedicated to providing you with insight, information, and alternative-risk solutions that are custom-fitted to your business and personal needs. They will tailor a plan for you using specific data in your region; you can even select options acre by acre. Their trained professionals will walk you through a range of options using risk-assessment tools that will take the pressure off when there is a drought in your area.

The CKP Promise

• CKP Insurance will conduct a one-on-one personal consultation to go over your specific ranch or farming operation needs.
• CKP Insurance will provide an honest assessment and discourage you from purchasing unnecessary coverage.
• CKP Insurance will keep you informed throughout the year as to how the program is performing for you and out opportunities to maximize your cost savings.

Your CKP Trusted Risk Advisor is trained to help you understand and analyze the complicated data in relatable terms so you can make the most informed decision for your business.

“Anyone can sell you a policy. But CKP invests the time to understand your individual needs and develop a strategy that will produce the best coverage results.”