Determinants of Farmers' Willingness to Re-purchase Crop Insurance

Document Type : Research Paper

Authors

Abstract

Crop insurance is a main tool for coping up with different adversities in farming. The purpose followed in this study was to identify the major motivating and determinant factors of re-purchase of crop insurance by and among already insured farmers. Survey research and Multi sectional sampling procedures employed used to select farmers. The sample consisted of two groups of farmers: 1) currently insured, 2) past time insured. Results indicate a high rate of re-purchase of crop insurance among farmers. A stepwise regression was employed to determine factors which influence farmers' willingness to re-purchase crop insurance. The regression revealed that satisfaction, perceived quality as well as cost value of insurance can significantly determine the re-purchase of insurance. Finally, some suggestions were put forward for more farmers’ willingness to re-purchase insurance.

Keywords

Files

Share

How to cite

Statistics