Economic Value of Multi-peril Coastal Hazard Insurance
| dc.creator | Ahmadiani, Mona | |
| dc.creator | Landry, Craig E. | |
| dc.date | 2017-04-01T19:34:08Z | |
| dc.date.accessioned | 2026-07-09T11:07:47Z | |
| dc.description | Expanding the National Flood Insurance Program to allow policyholders to purchase optional erosion coverage eliminate coverage disputes when erosion and flood both contribute to a loss, and provide affordable national erosion coverage. We examine the household welfare effect of multi-peril hazard insurance coverage by coupling information on NFIP policy in force with a survey data for a sample of coastal households in the US southeast. Our results indicate that the value of multi-peril hazard insurance is substantially higher for households who live in the coastal zone. We also test effect of risk perception (subjective risk assessment) on individuals’ decision to purchase multi-peril hazard insurance and find that higher risk perception lead to higher probability of purchasing multi-peril insurance coverage and increases the mean willingness to pay for insurance. | |
| dc.identifier | doi:10.22004/ag.econ.252817 | |
| dc.identifier | https://ageconsearch.umn.edu/record/252817/files/Ahmadiani_Landry_SAEA2017.pdf | |
| dc.identifier | http://ageconsearch.umn.edu/record/252817 | |
| dc.identifier.uri | http://hdl.handle.net/123456789/624983 | |
| dc.language | eng | |
| dc.publisher | ||
| dc.source | http://ageconsearch.umn.edu/record/252817 | |
| dc.title | Economic Value of Multi-peril Coastal Hazard Insurance | |
| dc.type | Text |