Abstract
In this article, Revenue Protection (RP) premiums are compared for 2015 and 2016. For the same projected price and volatility, premiums will be higher in 2016 as compared to 2015. Premium increases lead to questions as to whether farmers will lower coverage levels to lower premiums. Lowering coverage levels would go against the trend in recent years of increasing coverage levels. Lowering coverage levels also would expose farmers to higher revenue risks. In my opinion, these higher risks counter any cost savings from lowering coverage levels on most farms. As a result, farmers likely should continue to purchase crop insurance at high coverage levels.
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