As Indonesia's toll road network expands, associated risks like accidents and financial liabilities have risen, revealing a need for comprehensive toll insurance. This study evaluates Indonesian toll road users' perceptions and willingness to adopt mandatory toll insurance, with a focus on key factors such as safety and financial risk perceptions, attitudes toward insurance, trust in institutions, travel behavior, and price sensitivity. Findings from multiple linear regression analysis indicate that perceptions of safety and financial risks significantly drive the perceived need for toll insurance, aligning with Prospect Theory's emphasis on loss aversion (Kahneman & Tversky, 1979). Notably, while trust in institutions positively influences adoption intent, a favorable general attitude toward insurance correlates with a lower perceived need for toll-specific coverage, possibly due to existing insurance products. Contrary to expectations, price sensitivity emerged as the strongest predictor, suggesting that price-conscious users may value toll insurance as a cost-effective risk management tool. These results underscore the role of targeted communication and affordable pricing models in promoting toll insurance adoption in Indonesia.