- More than $5 billion has been sent to farmer for crops losses in 2012.
- Farmers will invest more than $4.1 billion to purchase more than 1.2 million crop insurance policies.
Crop insurance continues to be one of the best risk management decisions farmers can make.
The latest report from the National Crop Insurance Services shows that more than $5 billion has been sent to farmer for crops losses in 2012.
As the claims come in from one of the worst droughts in decades, farmers and ranchers across the country are receiving indemnity payments for the losses they have incurred.
The report also indicates that Farmers will invest more than $4.1 billion to purchase more than 1.2 million crop insurance policies.Those policies protect more than 282 million acres of eligible crops.
To help manage the workload, 15,000 crop insurance agents and 5,000 loss adjusters are working around the clock to help farmers get their claims processed.
Farmers can purchase insurance to protect 128 different crops, but the top five crops that suffered the most damage from the 2012 drought are corn, wheat, cotton, soybeans and grain sorghum.