IDEAS home Printed from https://ideas.repec.org/p/ags/saea17/252817.html
   My bibliography  Save this paper

Economic Value of Multi-peril Coastal Hazard Insurance

Author

Listed:
  • Ahmadiani, Mona
  • Landry, Craig E.

Abstract

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.

Suggested Citation

  • Ahmadiani, Mona & Landry, Craig E., 2017. "Economic Value of Multi-peril Coastal Hazard Insurance," 2017 Annual Meeting, February 4-7, 2017, Mobile, Alabama 252817, Southern Agricultural Economics Association.
    • Handle: RePEc:ags:saea17:252817
    DOI: 10.22004/ag.econ.252817
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/252817/files/Ahmadiani_Landry_SAEA2017.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.252817?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    Environmental Economics and Policy; Risk and Uncertainty;

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ags:saea17:252817. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: AgEcon Search (email available below). General contact details of provider: https://edirc.repec.org/data/saeaaea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.