Posted on May 16, 2022
Study says crop insurance costs – subsidized by taxpayers – are rising because of climate change
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Taxpayers spent nearly $40 billion on crop insurance premiums between 2001 and 2020 across a 13-state region that includes Iowa, Illinois, Missouri and South Dakota, according to a new report from the Environmental Working Group.
When water from the Missouri River and its tributaries flooded Jeff Jorgenson’s farmland near Sidney, Iowa in July 2011, crop insurance helped him get back on his feet.
“If it wasn't for crop insurance, it would have been a huge loss,” Jorgenson said. “It would have been really difficult to be farming the next year without crop insurance.”
Crop insurance provides a safety net for farmers, helping protect them against crop losses that can come from natural disasters. The federally-subsidized crop insurance program pays farmers when they lose crops because of a flood, drought or tornado.
When water from the Missouri River and its tributaries flooded Jeff Jorgenson’s farmland near Sidney, Iowa in July 2011, crop insurance helped him get back on his feet.
“If it wasn't for crop insurance, it would have been a huge loss,” Jorgenson said. “It would have been really difficult to be farming the next year without crop insurance.”
Crop insurance provides a safety net for farmers, helping protect them against crop losses that can come from natural disasters. The federally-subsidized crop insurance program pays farmers when they lose crops because of a flood, drought or tornado.
Study says crop insurance costs – subsidized by taxpayers – are rising because of climate change
Posted from kcur.org
Climate Change
Insurance
Taxes
Farming
Agriculture
Posted 2 y ago
Responses: 1
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PO1 William "Chip" Nagel
..."Farmers want to do the best job they can, using our natural resources in farming,” VanderWal said. “If you’re raising a crop that’s not suitable for a certain area, you’re not going to make any money at it.”
Yet Aaron Lehman, who uses both conventional and organic farming practices in Alleman, Iowa, said he would like to see changes with crop insurance. He pointed out that many farmers are embracing practices that improve sustainability and help counter climate change, such as using no-till farming and cover crops.
He said crop insurance should encourage such resilient practices.
“We are definitely experiencing climate changes, we definitely need to address them,” Lehman said. “And our crop insurance system should take a more proactive approach to encourage farmers to use those climate smart farming practices.”
..."Farmers want to do the best job they can, using our natural resources in farming,” VanderWal said. “If you’re raising a crop that’s not suitable for a certain area, you’re not going to make any money at it.”
Yet Aaron Lehman, who uses both conventional and organic farming practices in Alleman, Iowa, said he would like to see changes with crop insurance. He pointed out that many farmers are embracing practices that improve sustainability and help counter climate change, such as using no-till farming and cover crops.
He said crop insurance should encourage such resilient practices.
“We are definitely experiencing climate changes, we definitely need to address them,” Lehman said. “And our crop insurance system should take a more proactive approach to encourage farmers to use those climate smart farming practices.”
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