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The subject of this paper is the analysis of agricultural insurance in the Republic of Serbia, which includes the types of agricultural insurance that exist in Serbian insurance market, the subjects that could be insured, as well as the insurance companies that are active in agricultural insurance at national level. The main goal of paper is to define the basic terms in agricultural insurance and to show the products and procedures in agricultural insurance offered by the insurance companies. Additional goal is to show the level of development and coverage of agricultural insurance in Serbia, as well as to point out the importance of insurance for agricultural development. In paper are used descriptive and deduction method, as well as desk research and descriptive statistics methods. Based on the conducted research, it is concluded that the current state in agricultural insurance in Serbia is quite low, while the main factors influencing this situation are underdeveloped agriculture and the fact that agricultural insurance is not mandatory. Insurance is significantly more represented in the crop than in livestock production.