Human and wildlife conflict (HWC) is serious in the national park. Wildlife accident insurance is an important measure to alleviate the conflict. Taking the communities around the Giant Panda National Park as an example, this study analyzes the impact of the national park and risk preference on farmers' willingness to purchase wildlife accident insurance, and discusses the mediating effect of conflict level and institutional trust. The results show that the establishment of national parks significantly increases farmers' willingness to purchase wildlife accident insurance, and farmers' risk preference has a negative and significant impact on insurance purchase intention. Conflict level and institutional trust are important mediating variables. Both conflict level and institutional trust have a positive and significant impact on farmers' insurance purchase intention. The establishment of national parks significantly increases the severity of HWC, and then has a positive impact on insurance purchase intention. In addition, the establishment of national parks significantly reduces the institutional trust, which has a negative impact on the willingness to purchase insurance. The farmers' risk preference has a positive and significant impact on the severity of HWC, and then has a positive impact on insurance purchase intention. Farmers' risk preference has no significant impact on institutional trust. Based on the above, this study proposes to absorb social capital and broaden the source of funds for wildlife accident insurance, carry out community co-management, redemption, easement compensation and other measures to enhance community trust, and establish a wildlife accident insurance mechanism based on farmers' independent protection behavior.