This study aims to develop rice crop insurance services in the Mekong Delta. The premium is a very important element in an insurance policy, and the calculation of the premium requires both science and judgment. Based on the Bayesian empirical reliability theory approach, this chapter proposes an appropriate approach to calculate the premium for rice in the Mekong Delta, using both temporal and spatial aspects of data to increase the efficiency of statistical estimates. The results have calculated important criteria for the calculation of premiums according to the area yield index of the rice insurance contract, such as threshold yields, probable yields, indemnity levels, pure premium rate, and commercial premium rate. This result contributes to the design and charging of more diversified and reasonable crop insurance products.