Crop Insurance

The United States

Crop Insurance Analysis:

Indemnities for the U.S.

Premium Subsidies for the U.S.

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Crop Insurance premium subsidies by cause of loss for Soybeans, 1995-2022

The premium subsidies by cause of loss in the table below are lower than total premium subsidies for this state because the USDA Risk Management Agency only reports premium subsidies by cause of loss for policies that paid an indemnity. Non-indemnified policies and their associated premium subsidies are not reported by cause of loss.

Crop Insurance premium subsidies by cause of loss for Soybeans, 1995-2022
Cause of LossPremium subsidies
1995-2022
Excess Moisture/Precipitation/Rain$2,698,897,979
Drought$2,227,814,367
Decline in Price$622,950,957
GRP/GRIP/ARPI/SCO/ECO/STAX/MP/HIPWI Crops Only*$310,080,025
Hail$272,227,204
Heat$242,604,887
Cold Wet Weather$176,717,691
Flood$111,077,811
Frost$67,019,132
Wildlife$35,872,565
Wind/Excess Wind$35,465,777
Freeze$32,995,350
Hurricane/Tropical Depression$31,075,823
Other (Snow, Lightning, Etc.)$22,660,645
Hot Wind$17,929,130
Insects$10,577,768
Plant Disease$9,923,331
All Other Causes$5,928,500
Failure of Irrigation Supply/Equipment$1,613,017
Cold Winter$1,199,644
Tornado$718,315
Mycotoxin$537,967
Asian Soybean Rust$365,293
Fire$343,602
Earthquake$282,243
Cyclone$259,643
Inability to Prepare Land for Irrigation$140,600
Federal or State Ordered Destruction$12,340
Poor Drainage$10,088
Volcanic Eruption$9,867
Erosion$1,230
Market Price Difference - Spring vs Harvest$410
1995-2022$6,937,313,201

* Types of insurance policies; details on the RMA website. Indemnities for GRP/GRIP crops between 1995-2013; indemnities for ARPI, SCO, STAX, MP, HIP, WI crops 2014-2020, indemnities for ECO crops 2021 and 2022.

 

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