Factors Influencing Farmers To Utilize Crop Insurance Schemes In Kerala

  • Koshy C J
  • Dr. M.P. Mahesh
Keywords: Crop Insurance, Agriculture, Farmers

Abstract

Crop insurance is considered as an important risk aversion tool in agriculture. Agriculture is prone to unexpected risks that reduce farming output and it leads to financial instability to farmers. The main problems faced by farmers in agriculture are climate change, changes in input costs, labour related issues and variation in output. Crop insurance helps farmers to cover the loss in farming activities on risks associated with agriculture. Though government has provided subsidies for farmers on crop insurance, most of the farmers are reluctant to avail crop insurance. This study aims to understand the factors that have motivated farmers to avail crop insurance schemes. The results from the study indicates that there are six key factors that influence farmers that motivated them to take crop insurance such as Financial Protection and Risk Management, Awareness and Trust in Insurance, Government Schemes and Support, Compensation and Claim Process, Influence on Farming Decisions and Access to Loans and Financial Aid. While developing a crop insurance scheme and policies, government and other stakeholder should consider these factors which will influence farmers on choosing crop insurance schemes.

Author Biographies

Koshy C J

 Ph.D. Research Scholar, Department of Commerce, Annamalai University, Annamalai Nagar, Tamil Nadu, India-608002

 

Dr. M.P. Mahesh

Professor in Commerce, Annamalai University, Annamalai Nagar, Tamil Nadu, India -608002

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Published
2024-01-07
How to Cite
Koshy C J, & Dr. M.P. Mahesh. (2024). Factors Influencing Farmers To Utilize Crop Insurance Schemes In Kerala. Revista Electronica De Veterinaria, 25(1S), 1300 -1307. https://doi.org/10.69980/redvet.v25i1S.1137