Experimental Evidence for Coverage Preferences in Flood Insurance
Experimental Evidence for Coverage Preferences in Flood Insurance作者机构：School of Earth.Environment and SocietyMcMaster UniversityHamilton.ON L8S 4K1Canada
出 版 物：《International Journal of Disaster Risk Science》 (国际灾害风险科学学报（英文版）)
年 卷 期：2022年第13卷第2期
页 面：178-189页
核心收录：
学科分类：12[管理学] 1204[管理学-公共管理] 02[经济学] 0202[经济学-应用经济学] 081504[工学-水利水电工程] 020204[经济学-金融学（含∶保险学）] 08[工学] 0708[理学-地球物理学] 0815[工学-水利工程] 0706[理学-大气科学] 120404[管理学-社会保障]
主 题：Canada Flood insurance Insurance choice experiment Willingness-to-buy
摘 要：We used a hypothetical choice experiment to estimate the effect of dwelling value and coverage limits on the probability of purchasing flood insurance while holding the probability of flooding and insurance price constant. The results indicate that demand for flood insurance is negatively associated with the amount of insurance coverage. For people assigned higher-valued dwellings, however, the opposite effect is observed. Since more coverage is generally preferred to less, all else being equal, differences in purchase probability dependent on dwelling value indicate an inconsistent approach to home protection. The higher probability of purchasing flood insurance from people in higher-valued dwellings may indicate an investment into the home as a financial asset, a strategy that is not observed to the same extent among people in lower-valued dwellings. This suggests that use of coverage limits may be differentially preferred based on dwelling value, such that low coverage insurance may have lower uptake for those in high-valued dwellings. As Canada evaluates a national flood insurance program, this research suggests that variable coverage maximums could be a way to increase accessibility and uptake of *** research shows an inconsistent demand for flood insurance, dependent on dwelling value and independent of income.
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