IDEAS home Printed from https://ideas.repec.org/p/ags/aaea14/170676.html
   My bibliography  Save this paper

Home Owners’ Willingness to Buy Flood Insurance in Rural China

Author

Listed:
  • Jinzheng, Ren Jr
  • Longling, Li Jr
  • H. Holly, Wang Jr

Abstract

In Recent years, flood damage in rural China dramatically increased as a result of more frequent and severe floods. Although the policy-oriented agriculture insurance for natural disasters has been available in China, its coverage only applies to crops and livestock, not residents’ real estate and household property. In this paper, we investigate whether residents in rural China are willing to insure their property against flood damage and what kind of factors influence their willingness to seek insurance protection. Based on the national survey we conducted over 15 provinces in the summer of 2012, with 1322 valid observations, socio-economic, flood risks, insurance experience and region variable are analyzed using different models. The results show that there exists a strong need for flood insurance in rural China, and factors including flood experience in past 30 years, the elapsed time since the latest serious flood, income, and insurance experience influence rural residents’ willingness to participate in flood insurance. Policy suggestions for flood insurance are provided to the insurance industry and Chinese government at the end.

Suggested Citation

  • Jinzheng, Ren Jr & Longling, Li Jr & H. Holly, Wang Jr, "undated". "Home Owners’ Willingness to Buy Flood Insurance in Rural China," 2014 Annual Meeting, July 27-29, 2014, Minneapolis, Minnesota 170676, Agricultural and Applied Economics Association.
    • Handle: RePEc:ags:aaea14:170676
    DOI: 10.22004/ag.econ.170676
    as

    Download full text from publisher

    File URL: https://ageconsearch.umn.edu/record/170676/files/Home%20Owners_%20Willingness%20to%20Buy%20Flood%20Insurance%20in%20Rural%20China20140528.pdf
    Download Restriction: no
    File URL: https://libkey.io/10.22004/ag.econ.170676?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

    Agricultural Finance; 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:aaea14:170676. 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/aaeaaea.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.