Which state will cover all its farmers’ farm insurance costs?
The Farmgate Insurance Agency of Georgia, which has covered a portion of Georgia’s farmers’ crop insurance for more than a decade, announced this week that it will cover up to $20 million in crop insurance costs for the first time in its history.
Farmgate’s decision to offer the coverage, which was approved by state regulators on Friday, comes after the state and the federal government both announced earlier this year that they would end the state’s ban on farmers using their own crop insurance companies to cover crop insurance premiums.
The state is also considering allowing farmers to buy crop insurance directly from their own insurance companies.
State insurance officials said that Farmgate’s announcement on Wednesday is an example of how Georgia is changing the way the state works.
“Farmgate is a great example of Georgia working collaboratively to create a new model for the state, one that is in keeping with the rest of the country and in keeping within the laws that have been in place for decades,” Farmgate Executive Director Jim Miller said in a statement.
“This model is being tested in the marketplace to see how well it works, and we look forward to continuing to work with all stakeholders in Georgia on the next steps of this important project.”
The state will begin providing farm insurance coverage on April 16.