Not all commodities and farming hazards are eligible for agricultural insurance. Despite being created in 1982, agricultural insurance in Indonesia has not been fully optimised. The government is anticipated to provide safeguarding and empowerment to farmers who contribute to the advancement of the agricultural sector, with the aim of establishing a food ecosystem, achieving food self-sufficiency, and ensuring sustained food security. The study was carried out in Kudus and Kebumen in Central Java, Bojonegoro in East Java, and Bandung in West Java. There are a total of 220 farmers in the sample. The used data analysis approach involves the utilisation of the Cobb-Douglas production function to examine the risk variables affecting productivity, alongside the coefficient of variation (CV) to assess the amount of risk encountered by farmers. Additionally, descriptive narrative is employed to depict farmers' perspectives about agricultural insurance. The objectives of this study are: (1) to assess the amount of risk associated with rice farming and the corresponding cost implications, (2) to identify the variables that influence the risk in rice farming in Java, and (3) to evaluate the perception of agricultural insurance among farmers. The findings of this research indicate a significant production risk, with a coefficient of variation of 0.704 or 70.4%. This implies that rice farmers face a substantial risk in their agricultural operations. The primary production risk variables that impact rice cultivation are seed quality and availability, as well as labour constraints. The survey reveals that 88% of farmers had a favourable view of agricultural insurance. This elucidates the farmer's perspective on the presence of an agricultural insurance programme as a safeguard for farmers against potential crop failure.