Why we should be worried about food prices
Farm bureau insurance is becoming increasingly popular among farmers.
Farm bureau premiums have increased by 10 percent in the past year, according to the Insurance Information Institute.
That’s the most since the start of the economic downturn, according a recent study.
In a letter to farmers, the Institute argues that the rate of increase is due to a “surge in crop insurance premiums.”
It says farmers are paying about $600 per year per farm for coverage that will cover crops like wheat, barley, corn, and soybeans.
That is an increase of more than a fifth from a decade ago.
But farmers aren’t the only ones getting more coverage.
Farmers are also getting discounts on other types of farm products.
The Institute estimates that farmers have received an average of 6.5 percent off other farm products in the last year.
A typical farm bureau premium is about $3,400 per year, and farm bureau insurance can be cheaper than traditional farm insurance, according the Institute.
It has also increased by about 40 percent in recent years.
A study by the Institute found that about half of farmers surveyed had received some sort of subsidy from the government.
But many farmers have seen the prices of their crops fall due to higher crop insurance costs.
The average farm bureau premiums increased about 10 percent last year, while farm bureau coverage was about 6 percent.
The biggest jump came in the corn industry, where prices jumped nearly 20 percent in a single year.