As a big agricultural province, the development level of agricultural insurance not only affects Hunan' s economical development, but also affects the farmers' income. This paper applies Cobb-Douglas Production Function; chooses the variable factors such as farmers' income, income of agricultural insurance premium, agricultural capital income; and makes use of unit root test, cointegration test, ECM error correction model test, Granger Causality Tests to analyze the impact of agricultural insurance on farmers' income in Hunan province based...