Are poultry farmers willing to insure their farms? Empirical evidence from Ghana

Abstract

The inherent risks in poultry business require that farmers insure their farms to relief them when they occur. This paper investigated the willingness of poultry farmers to insure their farms, using probit model. Primary data were collected from 180 farmers in two regions of Ghana. The factors that are more likely to influence poultry farmers' decision to insure their farms are credit access, diversification of income, tying insurance to technology, subsidizing insurance premium, and designing insurance to suit risk. Poultry insurance should be designed to suit risk faced by farmers, subsidized by government, and bundled with credit for uptake.