The concept of agricultural insurance has broad sense and narrow sense. Agricultural insurance in a broad sense covers agricultural production, processing and even sales of agricultural products, as well as agricultural means of production, agricultural machinery and agricultural equipment. Agricultural insurance in a narrow sense mainly refers to planting and aquaculture insurance. Narrow sense of agricultural insurance is an institutional arrangement for agricultural producers to pass on the losses of agricultural property caused by disasters and accidents to insurers at the expense of paying small insurance premiums. Agricultural insurance is a kind of insurance with crops and raised animals as the insurance objects.

Compared with general property insurance, agricultural insurance has six different characteristics: ① the life of the subject matter insured. First, the subject matter of agricultural insurance is mostly biological, and the value of the subject matter of insurance is uncertain; Secondly, the life cycle and growth law of insurance subject matter set a time premise for the development of agricultural insurance business; Third, the site of agricultural insurance damage is easy to be lost, which restricts the opportunity of agricultural insurance survey and the limitation of claims; Fourth, crop insurance has self-recovery, and sometimes it needs to be fixed twice; Fifth, it is difficult to formulate a unified payment standard for agricultural insurance; Sixth, the moral hazard of agricultural insurance is great. ② Strong regionality. This is determined by the regional nature of agricultural production and agricultural disasters. ③ obvious seasonality. This characteristic stems from the seasonality of agricultural production and agricultural disasters. ④ periodicity of operating results. Agricultural disasters have obvious periodicity. ⑤ Technical difficulty and high operational risk. It is manifested in the difficulty of exhibition industry, underwriting, claims settlement, serious adverse selection and high moral hazard. 6. Policy. On the one hand, it is reflected in the non-profit of agricultural insurance, on the other hand, it is also reflected in the dependence on the government's driving force.

Further reading: How to buy insurance, which is good, and teach you how to avoid these "pits" of insurance.