Based on a survey data of 635 high-tech enterprises in Zhejiang province, this paper empirically tested the determinants of science and technology insurance (S&T insurance). The results indicate that: firstly, managerial risk appetite and risk perception can directly affect the needs of S&T insurance. Specifically, risk preference will reduce the need of S&T insurance, while risk perception will increase it. Secondly, board governance is effective for enterprise risk management, the higher the proportion of independent directors, the stronger the willingness to purchase S&T insurance. Third, risk perception is a mediator between board independence and willingness to purchase S&T insurance, while the mediating effect of risk appetite is insignificant.