America’s Farmers Trust Crop Insurance

February 8, 2023

Every day, America’s farmers spend long hours working the land or caring for livestock. We rely on farmers for the food we eat, the clothes we wear, and the fuel that moves us. Farmers rely on the safety net provided by crop insurance.

Crop insurance provides farmers and ranchers with an essential risk management tool, protecting more than 490 million acres of American farmland across all 50 states. Crop insurance is affordable, it is accessible, and it is adaptable. It helps farmers both survive the catastrophes of today and tackle the challenges of tomorrow.

Here are 5 things you must know about crop insurance.

Funded Partly by Farmers

Farmers must purchase crop insurance. Last year, farmers collectively spent more than $6 billion for crop insurance coverage. The government provides a discount to ensure crop insurance remains affordable. Farmers must also shoulder a portion of losses, in the form of a deductible, before receiving aid. Insurers shoulder part of the losses, too, so taxpayers aren’t on the hook for 100% of disaster costs.

Delivers Aid in Days – Not Years

Following a disaster, private-sector crop insurance claims adjusters quickly and accurately assess damages and calculate losses. Farmers usually receive crop insurance aid within weeks, giving them the capital necessary to plant again the next season. Plus, crop insurance provides assistance based on an individual farmer’s actual loss, protecting farmers, ranchers, and taxpayers.

Supports the American Economy

Crop insurance protects more than 490 million acres of American farmland. Each of these acres represent a farming family: some are continuing a long legacy of agriculture, while others are the first generation to farm. Each farm is an integral part of our nation’s food supply and our economy.