Agriculture Drives South Dakota’s Economy
- South Dakota crops contribute $9.7 billion to the state’s economy.
- Top crops grown include corn, soybeans, and wheat.
Crop Insurance Is Vital to South Dakota’s Agricultural Sector
“We purchase crop insurance for our family farm every year and have never filed a major claim. But that’s hardly the point. Like our fellow farmers, we purchase crop insurance for the same reasons we purchase home insurance or car insurance — with the hope we’ll never need it. But we’ll keep purchasing it every year because some day we might.” — Scott VanderWal, third-generation family farmer, Volga, South Dakota
- In 2019, crop insurance protected 18.2 million acres providing $4.4 billion in liability protection.
- Farmers paid $195.7 million for this insurance coverage.
- Crop insurers paid $1.1 billion to cover crop losses in 2019.
The private Crop-Hail insurance product provided an additional $754.9 million in liability to protect South Dakota crops in 2019.
Companies Writing Crop Insurance in South Dakota 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
Precision Risk Management
Rain and Hail L.L.C.
Rural Community Insurance Services