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Come on rain! Although we can’t promise any moisture, The Home Agency offers yet another way to manage risk. Farmers & ranchers alike are seeing the opportunity to combat insufficient or excessive precipitation as well as excessive heat or freeze. We have teamed with eWeather Risk to offer you this protection.
The process is simple. You call us with the amount of liability you’d like to cover. In the case of crops we would figure your guarantee times your acres. There is a $50,000 minimum but you can go higher. From there we determine a time frame and what weather station/s would best represent your needs. Many things can affect the rate which is based off a 60 year history of your weather station. The amount of days, the past recorded data, how many days away you are from an expected event and so forth. Our specialist works with and adjusts the information until he gets you the best coverage for the lowest rate possible. Then if during the dates you chose on your contract you average below a certain temperature or less than a certain fraction of rain, you will be paid per degree or amount of rainfall.
Ranchers are calling in from all over. They are taking out coverage for their cattle pairs that they may not have grass for over the summer if the heat & lack of rainfall persists. How much will it cost them to feed or haul them to greener pastures? They need eWeather contracts to help cover these expenses.
Agriculture is not the only profession taking advantage of these eWeather contracts. Other businesses such as construction, public power, air conditioning, ethanol plants, and recreational resorts use these to cover the business they risk losing due to a weather event. These events could be drought, excessive rainfall, freeze or excessive heat.