Homeowner willingness to pay for a pre-flood buyout agreement

Flood Insurance;Climate Change;Flood Policy;Flood Risk;Buyout

Reeser, Collin M. ; Ando ; Amy

关键词: Flood Insurance;    Climate Change;    Flood Policy;    Flood Risk;    Buyout;   

Others  :  https://www.ideals.illinois.edu/bitstream/handle/2142/92652/REESER-THESIS-2016.pdf?sequence=1&isAllowed=y

美国|英语

来源: The Illinois Digital Environment for Access to Learning and Scholarship

【 摘 要 】

Flood events are expected to increase in frequency and severity as climate change raises sea levels and intensifies regional precipitation events. The only permanent means of removing high risk homes from flood prone areas is through homeowner buyout programs. Using an online contingent valuation survey we evaluate homeowner willingness to pay for a pre-flood buyout agreement where the owner is paid pre-flood market value for their home and must relocate following a flood damaging greater than 50% of the value of their home. Additionally, we estimate homeowners' willingness to sign up for a pre-flood buyout agreement coupled with flood insurance. We find self-reported flood risk estimates, income, the expectation of neighbors also signing up for the buyout, environmental concerns, and flood experience all significantly affect homeowners' willingness to pay for the program. When coupled with flood insurance we find self-reported flood risk estimates, income, neighborhood tenure, environmental concerns, and flood experience all significantly affect homeowners’ willingness to sign up.