The government subsidy is an important booster for the development of agricultural insurance in China. At present, China's agricultural insurance premium subsidy is about to enter a promotion period of wide range. However, there are many practical problems in practice of the inadequate subsidy legislation, irrational subsidy mechanism, single subsidy mode, narrow subsidy scope, insufficient subsidy size, and less efficiency. This paper explores the China's agricultural insurance subsidies from the perspective of theory and practice, answers the practical questions such as "why subsidize", "how subsidize", "what subsidize" and "how much subsidize", and look forward to be of some help to the practice of China's agricultural insurance subsidies.