Percent of Farmland Covered by Crop Insurance Grows
Data from USDA's Risk Management Agency shows 86-percent of all planted U.S. farmland - some 281-million acres - is protected by crop insurance this year. That's a two-percent increase from 2011 and nearly a three-fold increase from the late 1990s.
According to National Crop Insurance Services - that growth in coverage has been fueled by a number of factors. Among those factors are fewer federal risk management alternatives, the desire of farmers to have increased control of their risk management choices, federally-funded premium subsidies for those who purchase policies and the wide array of policy options.
Some 1.2-million crop insurance policies were sold in 2012 - covering 128 different crops. The majority - 84-percent - covered corn, soybeans and wheat.
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