In this study, we examined the effect of climate change on the incomes of farmers in a southern Mediterranean country. We proposed that crop insurance could be potentially used as a means to adapt to climate change. Using panel data for Tunisian regions, we were able to highlight the important effects of climate change on crops yields by considering two scenarios of the Representative Concentration Pathways, namely RCP 4.5 and RCP 8.5. In the long term (i.e., in 2050 and 2100), we expect increasingly frequent heat waves to occur, leading to a rise in droughts for all regions of Tunisia. We therefore recommend that farmers seek to insure themselves against the risks of drought and flood to their crops, because we feel this may be an attractive device for compensating them for any potential losses of income.