Agriculture Drives New Mexico’s Economy
- New Mexico crops contribute $2.6 billion to the state’s economy.
- Top crops grown include pecans, chili peppers, and cotton.
Crop Insurance Is Vital to New Mexico’s Agricultural Sector
- In 2019, crop insurance protected 15.3 million acres providing $380.6 million in liability protection.
- Farmers paid $28 million for this insurance coverage.
- Crop insurers paid $50.3 million to cover crop losses in 2019.
The private Crop-Hail insurance product provided an additional $39.6 million in liability to protect New Mexico crops in 2019.
Companies Writing Crop Insurance in New Mexico Include:
ARMtech Insurance Services
CGB Diversified Services
Crop Risk Services
Farmers Mutual Hail Insurance Co. of Iowa
Great American Insurance Company
Hudson Insurance Group
NAU Country Insurance Company
Rain and Hail L.L.C.
Rural Community Insurance Services