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FAQs
- How did Livestock Price Insurance Begin?
- What is the best way to utilize Livestock Price Insurance?
- How can I best make the program work for me?
- Why is it important for producers to have coverage, even in above average markets?
- Why do LPI premiums fluctuate?
- If I purchase a policy and notice the coverage is better the next day, can I “roll up” my coverage?
- What if the market drops significantly during my policy, due to a border closure or pandemic? What happens to the policies I currently hold and will I be able to purchase coverage during this crisis?
- If some of my animals die, is my policy adjusted?
- Will I be able to use LPI to insure my breeding livestock (cows/bulls, sows/boars)?
- Are the insurance premiums subsidized like those in crop insurance?
- All producer premiums go into a general fund to pay indemnities. What happens if the payout for indemnities exceeds what is in this fund?
- How do I know which policy and expiry date is best for me?
- Can I insure cattle on a different program if already currently insured?
- Does the program utilize what my animals were sold for in the settlement?
- Why are there two regional coverage options for LPI-Calf and LPI-Feeder?
- How do I choose between the different coverage options in LPI-Calf and LPI-Feeder? And, can I choose one based solely on the fact it has higher coverage and/or lower premium?
- What happens to my policy if I sell my cattle earlier than my eligible claim windows or decide to retain ownership?
- If I have 75 animals to sell, can I insure 100? Can I insure 50?
- When does my claim window start?
- LPI settlements for Feeder and Calf are derived from steer data only, are heifers still insurable?
- Why are calf policies not sold year-round?
- I am buying replacement heifers to breed, can they be insured?
- How do I insure the light-weight calves in the fall that I have just purchased and am wintering to take to grass?
- How does the slide to calculate the LPI-Feeder settlement index work?
- Why should I voluntarily report my fed cash prices?
- Why is there no claim window for LPI-Hog?
- Why are there three coverage options for LPI-Hog?
- How do I choose between the different coverage areas in LPI-Hog? And, can I choose one based solely on the fact it has higher coverage and/or lower premium?