Meet Your LRP Specialist!
Shawn 'Tater' Erickson is dedicated to his community, his family, & his customers. Fire Chief for Hobson Rural Fire Department, Volunteer EMT for the Hobson area, Proud Father of three, & Insurance Agent for countless clients, he is here for all of your questions regarding Livestock Risk Protection. He is ready to help you cover your downside risk!
Frequently Asked Questions
What is LRP - Livestock Risk Protection?
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Quite simply LRP is an insurance policy. Livestock Risk Protection. Feeder Cattle (LRP-Feeder Cattle) is designed to insure against declining market prices. You may choose from a variety of coverage levels and insurance periods that match the time your feeder cattle would normally be marketed (ownership may be retained).
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You may choose coverage prices ranging from 70 to 100 percent of the expected ending value. At the end of the insurance period, if the actual ending value is below the coverage price, you will be paid an indemnity for the difference between the coverage price and actual ending value.
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You may buy LRP-Feeder Cattle insurance throughout the year from Risk Management Agency (RMA) approved livestock insurance agents. Premium rates, coverage prices, and actual ending values are posted online daily.
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You must buy LRP-Feeder Cattle insurance through a livestock insurance agent. You may fill out an application at any time. However, insurance does not attach until you buy a specific coverage endorsement. You may buy multiple specific coverage endorsements with one application. Your insurance coverage starts the day you buy a specific coverage endorsement.
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LRP Policies are through the RMA & government subsidized.
Is an LRP Policy worth it?
The benefits of LRP compared to futures and options include no margin calls, up-front premium cost is definite compared to feeder cattle options, and no quantity minimums.
What state are we located in?
We are based in Hobson, Montana, Untied States
In what states are we licensed to write policies of LRP?
Montana, Idaho, Wyoming, North Dakota, South Dakota, Nebraska, Kansas, Oklahoma, Texas, Utah, Colorado, Iowa, Nevada, New Mexico, Washington, Oregon, Arizona.
Watch our LRP Videos
You are the keeper of your herd. Hard work, dedication, & sacrifice are all part of your daily life. We understand all it takes for your operation to keep moving forward. Our LRP videos give you the information you need in discovering LRP & how it may benefit your operation in managing downside risk.
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Downside Risk can give you a ride for your money. Stay on top with all our LRP - Livestock Risk Protection information on-the-go! Get notified when we update our Daily LRP page. Check out all of the updated CME numbers, quotes, & commentary. Watch all of our LRP videos. Call & talk to Tater our LRP Specialist! All from our app - Download & get started today!
