The article uses the model of multivariate linear regression based on least squares method (OLS) to estimate the
factors affecting the level of willingness to pay for farming households in Bac Lieu province. At the same time, the
authors  used  random  evaluation  method  (CVM)  based  upon  the  random  parameter  model  of  the  Haab  and
McConnell (2002) to estimate the level of willingness to spend on insurance of farm shrimp on the given location,
matching the method parameters (WTP) to measure the level of willingness to pay. The findings shown that the
premium rate, education level, age of householder, income, participation previous time have direct influence to
willingness to pay of farmers in the given province. Thus, possible solutions to improve insurance information and
programme development need to be addressed