Crop Insurance Purchase Decisions: A Study of Northern Illinois Farmers

Matthew G. Ginder, Aslihan D. Spaulding, J. Randy Winter and Kerry W. Tudor

Journal of the ASFMRA, 2010

Abstract: When selecting crop insurance coverage, farmers must consider multiple factors. The importance associated with factors that are considered when making crop insurance decisions varies among individual farmers. As available crop insurance options increase, selecting the appropriate coverage becomes a more complicated process. The prevalence of crop insurance participation and the existence of multiple selection criteria also makes understanding participant decisions more difficult. This paper provides findings of a mail survey conducted among farmers in northern Illinois. Mainly, this paper examines factors influencing farmers’ crop insurance purchase decisions, types of coverage purchased, and farmers’ risk attitudes.

Keywords: Crop Production/Industries (search for similar items in EconPapers)
Date: 2010
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