AN INSIGHT ON FARMERS’ WILLINGNESS TO PAY FOR INSURANCE PREMIUM IN SOUTH INDIA: HINDRANCES AND CHALLENGES
Farmers are vulnerable to substantial weather risks in many parts of India. To this purpose, weather based crop insurance has been recently designed for the rain-fed crops to provide farmers insurance against risks and losses in crop yields resulting from adverse weather. However, the farmers are in general not aware of the details of weather based crop insurance policy and the premium calculations. This study focuses on farmers preferences towards the weather insurance of paddy crop, one of the major irrigated crops in India and highly vulnerable to extreme weather.