Study says crop insurance costs – subsidized by taxpayers – are rising because of climate change

Taxpayers spent nearly $40 billion on crop insurance premiums between 2001 and 2020 across a 13-state region that includes Iowa, Illinois, Missouri and South Dakota, according to a new report from the Environmental Working Group.
When water from the Missouri River and its tributaries flooded Jeff Jorgenson’s farmland near Sidney, Iowa in July 2011, crop insurance helped him get back on his feet.

“If it wasn't for crop insurance, it would have been a huge loss,” Jorgenson said. “It would have been really difficult to be farming the next year without crop insurance.”

Crop insurance provides a safety net for farmers, helping protect them against crop losses that can come from natural disasters. The federally-subsidized crop insurance program pays farmers when they lose crops because of a flood, drought or tornado.