Agricultural Insurance and Selection of Soil Testing and Formula Fertilization Technology—An Empirical Study Based on the Main Rice-Producing Areas in China

Agricultural insurance not only plays a significant role in disseminating agricultural risks and stabilizing farmers’ income, but also constitutes an essential means of promoting the transformation of agricultural development from excessive reliance on resources to a green production mode. Based on the survey data of 978 rice farmers in Jiangxi Province in 2022, this paper explored the influence of farmers’ participation in policy-based agricultural insurance on the adoption of soil testing and formula fertilization technology through the propensity score matching method. The results indicate that farmers participating in policy-based agricultural insurance exhibit significantly superior performance in adopting soil testing and formula fertilization technology compared to those not participating. Further analysis found that there were significant differences between farmers with different resource endowments participating in policy-based agricultural insurance, and that the policy-based agricultural insurance had a better effect on the adoption of soil testing and formula fertilization technology for farmers with more years of education, part-time employment, and more flat land than it did for farmers with fewer years of education, professional farmers, and more sloping land. The main conclusion is that the guarantee function of agricultural insurance in rural areas should be enhanced; the training and publicity of farmers’ production technology and environmental awareness should be strengthened; rural characteristic industries and county economies should be vigorously developed; high-standard farmland should be vigorously constructed; and policy suggestions should be made on agricultural infrastructure construction.