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Source: NATIONAL CROP INSURANCE SERVICES, 10/23/12
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. To date, more than $2.6 billion has been sent to farmers. And while crop insurance can be purchased to protect 128 different crops, the top five crops that suffered the most damage from the 2012 drought are corn, wheat, cotton, soybeans and Pasture Rangeland and Forage.
Farmers will invest more than $4.1 billion to purchase more than 1.2 million crop insurance policies.Those policies protect more than 281 million acres of eligible crops.15,000 crop insurance agents and 5,000 loss adjusters are working around the clock to help farmers get their claims processed.
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