2017 Crop Insurance Premiums and 2016 Insurance Use in Illinois12/14/2016
In this article, Revenue Protection (RP) premiums projected for 2017 are compared to 2016 actual premiums. For the same projected prices and volatilities, premiums will be lower in 2017 for both corn and soybeans. In 2016, farmer continued to use crop insurance on a high percentage acres and continued to increase use of high coverage levels. Overall, crop insurance in 2017 likely will be similar to that in 2016.