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Rural Homeowners’ Willingness to Buy Flood Insurance

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  • Jinzheng Ren
  • H. Holly Wang

Abstract

Houses are the primary asset for Chinese rural families. However, dramatically increasing frequency and severity of floods have caused significant loss in rural houses recently, and there is generally no insurance available. In this article, we investigate the rural residents’ willingness to buy insurance according to a national survey. The results show that there exists a strong need for flood insurance in rural China, and the influencing factors in the insurance demand include the recent frequency of floods, income, and past experience with lack of flood insurance. Policy suggestions for flood insurance are provided for the insurance industry and Chinese government.

Suggested Citation

  • Jinzheng Ren & H. Holly Wang, 2016. "Rural Homeowners’ Willingness to Buy Flood Insurance," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 52(5), pages 1156-1166, May.
    • Handle: RePEc:mes:emfitr:v:52:y:2016:i:5:p:1156-1166
    DOI: 10.1080/1540496X.2015.1134867
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    Cited by:

    1. Yuyun Hidayat & Sukono & Betty Subartini & Nida Khairunnisa & Aceng Sambas & Titi Purwandari, 2022. "An Estimated Analysis of Willingness to Wait Time to Pay Rice Agricultural Insurance Premiums Using Cox’s Proportional Hazards Model," Mathematics, MDPI, vol. 10(21), pages 1-16, October.

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