Participation in Yield and Revenue Insurance Products: What Are Important Factors?

Shiva Makki, Agapi Somwaru, and Joy Harwood

Elsewhere No. (0106), May 2001

This article in the Journal of Agricultural Lending examines farmers' insurance choices. Analyzing the demand for yield and revenue insurance products among corn and soybean producers who purchased insurance in Iowa in 1997, the authors find that high-risk farmers are more likely than low-risk farmers to have chosen higher coverage level contracts and revenue insurance. Across time, the availability of revenue insurance caused additional people to buy insurance and caused certain poducers to switch from yield to revenue insurance.

Keywords: Insurance participation, yield insurance, revenue insurance, crop insurance, Crop Revenue Coverage, risk, corn producers, soybean producers

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Updated date: May 2001