Crop insurance is considered as an effective risk transfer mechanism. In India, crop insurance has a long history in its various forms. However, the penetration of the crop insurance schemes is low, and therefore, its effectiveness in protecting the farmers during stress is limited. This issue is serious in case of rainfed farming systems, which are prone to large extent of risk and uncertainty. In this article, an attempt is made to analyze the performance of various crops insurance schemes for Maharashtra, one of the regions reported to be having large extent of farm distress. The study reveals that the coverage of crop insurance in terms of number of farmers and crops covered is limited, with respect to National Agricultural Insurance Scheme (NAIS), modified NAIS and Weather Based Crop Insurance Scheme (WBCIS). The paper calls for accelerated efforts to enhance the effectiveness of the crop insurance.