Though most of the farmers in developing countries are vulnerable against extreme weather shocks, the constraints they face in coping with these shocks and the kind of strategies they adopt may vary significantly. This study estimates the impact of weather shocks on farmers’ income, followed by the evaluation of their perceptions and coping strategies against weather shocks, in the rural area of district Multan in Pakistani Punjab. Primary data was collected through structured questionnaire survey of 273 randomly selected farmers and were analyzed through descriptive statistics and regression techniques. Results revealed that farmers used different coping strategies against weather shocks. Furthermore, the household size, flood, frost, drought and heavy rains frequency negatively impact farm income, while the explanatory variables such as non-farm income, machinery possession, weather information, farm size, education, hailstorm frequency and age positively impact farm income. It is recommended that micro level adaptation can boost the coping capacities of farmers. Diversification of income and early warning system can reduce the risk of losing sustenance. Cash support is instrumental to recover the livelihood and enable them to use appropriate strategies to cope with weather shocks.