A Look at Crop Insurance Products and Coverage

Crop insurance has become an essential risk management tool for U.S. farmers.  With the crop insurance decision deadline looming, farmers must quickly make any changes to their policy and coverage levels for 2015.  Given the current tighter budget realities and fresh memories of the 2012 drought when crop insurance proved very valuable, the stakes are high. A delicate balance between affordability and ample coverage is needed.

Rather than look at lots of different budget and premium data, we decided to examine the crop insurance decisions that producers in different parts of the country made in 2014.  I know that when I saw the data for my own county I was a bit surprised as to the predominant coverage level being purchased.

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