The deadline to sign up for 2024 PRF coverage is December 1, 2023, with coverage beginning January 1, 2024. However, the start of your individual coverage actually depends on which intervals you’ve insured.
How Do PRF Insurance Intervals Work?
PRF insurance is divided into 12, two-month intervals throughout the year. This means that if you are insured for the Jan-Feb interval, then your coverage will begin on January 1, 2024, and you could potentially start to see indemnities as early as 60-90 days after the end of this first interval if your premium balance is satisfied in full. However, if you’re insured for intervals later in the year, then your coverage will not begin until your earliest interval.
How To Choose Your PRF Coverage Intervals:
While deciding which intervals to insure your land, remember that not all intervals are created equally. Your Redd Summit Advisors Agent uses elite software to identify which intervals would have historically triggered indemnities over the last 20 years so that your coverage can be allocated in a way that maximizes your potential benefit. While it may be tempting to insure those early intervals in hopes of cashing a check early on in the year, those intervals may not always be optimal for your specific operation.
Regardless of which intervals you’ve placed your coverage, you’ll still receive monthly interval statements from Redd Summit Advisors to keep you informed on your current or upcoming covered intervals and their performance throughout the year.
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