The Indicator from Planet Money Why can't we insure trees?
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Jul 7, 2025 Discover the intriguing reasons why trees aren't insured like other crops in the U.S. Explore the devastating impact of extreme weather on forests, particularly through the lens of maple syrup producers. Understand the financial risks landowners face and learn about past attempts to create a sustainable timber insurance market. Delve into the complicated economics of insuring trees and how community advocacy is paving the way for innovative solutions in the face of climate change.
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Maple Producer's Ice Storm Loss
- Dale Forrester, a Michigan maple producer, lost about 50% of his maple trees after a severe ice storm.
- This storm damaged over a million acres of forest, illustrating the vulnerability of tree-based livelihoods.
Trees Lack Insurance Coverage
- Standing trees like sugar maples do not have insurance coverage, unlike equipment or syrup products.
- This gap leaves producers like Dale financially vulnerable after natural disasters.
Private Timberland Uninsured
- Most timberland in Michigan and the U.S. is privately owned but remains uninsured.
- Smaller landowners managing woods for profit every few decades cannot get tree insurance.