The acquisition of vegetation coverage information is crucial for crop field management, and utilizing visible light spectrum vegetation indices to extract vegetation coverage information is a commonly used method. However, most visible light spectrum vegetation indices do not fully consider the relationships between the red, green, and blue bands during their construction, making it difficult to ensure the accurate extraction of coverage information throughout the crop’s entire growth cycle. To rapidly and accurately obtain potato vegetation coverage information, drones were used in this study to obtain high-resolution digital orthoimages of potato growth stages. Based on the differences in the grayscale values of potato plants, soil, shadows, and drip irrigation belts, this study presents a combination index of blue and green bands (BGCI) and a combination index of red and green bands (RGCI). The vegetation index intersection method was used with 10 vegetation information indices to extract vegetation coverage, and the differences in extraction accuracy were compared with those of the maximum entropy method and bimodal histogram method. Based on the high-precision fraction vegetation coverage (FVC) extraction results, the Pearson correlation coefficient method and random forest feature selection were used to screen 10 vegetation and 24 texture features, and the top six vegetation indices most strongly correlated with the FVC were selected for potato growth stage FVC estimation and accuracy verification. A high-precision potato vegetation coverage estimation model was successfully established. This study revealed that during the potato tuber formation and expansion stages, the BGCI combined with the vegetation index intersection method achieved the highest vegetation coverage extraction accuracy, with overall accuracies of 99.61% and 98.84%, respectively. The RGCI combined with the vegetation index intersection method achieved the highest accuracy, 98.63%, during the maturation stage. For the potato vegetation coverage estimation models, the model based on the BGCI achieved the highest estimation accuracy (R2 = 0.9116, RMSE = 5.7903), and the RGCI also achieved good accuracy in terms of vegetation coverage estimation (R2 = 0.8987, RMSE = 5.8633). In the generality verification of the models, the R2 values of the FVC estimation models based on the BGCI and RGCI were both greater than 0.94. A potato vegetation coverage estimation model was constructed based on two new vegetation information indices, demonstrating good accuracy and universality.