Climate change is the major set-back to the farmers, to surmount that situation crop insurance is the yardstick for the farmers. To stabilize the farm income the farmer has to avail the crop insurance. The Pradhan Mantri Fasal Bima Yojana was help to guard the farmers from crop loss due to unpredictable movements and alleviate the heavy weight of financial risk on farmers and stabilize their farm income. Even though this crop insurance Program was found to be farmer friendly, rural people still struggle to understand and accept it. The identified findings of the study show the knowledge level of beneficiaries of the sample of 120 farmers in the Srikakulam district of Andhra Pradesh. In srikakulam ten farmers from each village were randomly selected namely Muddada, Ponnada, Ibrahimbad, Konagaram from Etcherla Mandal; Gara, Korlam, Korni, Kothurusyrigam from Gara Mandal; Telukunchi, Tulasigam, Paitharikeerthipuram, Haripuram from Ichchpuram mandal were selected for the study. Thus a total of twelve (12) villages were chosen for the study. The ex-post facto Research design was used for this study. Pearson’s Correlation Coefficient (r) and Multiple Linear Regression (MLR) are some statistical tools used in this study. Most of them (61.67%) beneficiaries had medium level of knowledge, followed by those with low (20.00%) and rest (18.33%) had low levels of knowledge.