This study examines the determinants of microinsurance adoption among low-income vehicle operators in Bangladesh. Using a structured survey (n = 400), the analysis combines descriptive statistics, distribution diagnostics (skewness and kurtosis), reliability testing of an adoption-readiness index (Cronbach’s α), Chi-square tests, Spearman rank correlations, a logistic model of willingness to pay (WTP), and a linear model of perceived financial security. The adoption readiness index demonstrates excellent internal consistency (α = 0.954; 95% CI [0.940, 0.969]). Education is strongly associated with insurance awareness (χ² = 102.66, df = 2, p < .001), and monthly income is significantly associated with interest in microinsurance (χ² = 36.27, df = 6, p < .001). Spearman correlations reveal Education–Income ρ = .683, Education–Awareness ρ = .331, Income–WTP ρ = .238, and Interest–WTP ρ = .991 (all p < .001). In the logistic model, age negatively predicts WTP (B = −2.220, OR = 0.109, p < .001), while education and income show positive but nonsignificant effects (McFadden pseudo-R² = .180). A linear model indicates that awareness, affordability, accessibility, and trust jointly explain approximately 62% of the variance in perceived financial security (R² = .62). Findings provide actionable guidance on awareness campaigns, premium pricing cadence, and claims simplification.