Probit Model Results of the Relationship between Variables and Flood Insurance Coverage for Germany

VariableParameter Estimates
Has water barriers0.165* (0.095)
Has adapted building use0.018 (0.088)
Has flood-proofed home0.042 (0.077)
Has flood risk information0.297*** (0.068)
Has flood awareness0.156** (0.072)
A member of a flood coping network0.186*** (0.068)
Risk culture proxy (Elbe catchment area)0.822*** (0.081)
Feels another flood will not occur0.03 (0.068)
100-year flood zone−0.09 (0.083)
Flooded before−0.087 (0.081)
Constant−0.236* (0.139)
Likelihood ratio χ2 (prob > χ2)231*** [0.000]
Pseudo R20.08
  • Note: Numbers in parentheses are standard errors. Values for the constant are not the marginal effect but the coefficient estimate from the probit model. Numbers in square brackets are p-values.

  • *, **, *** Statistical significance at the 10%, 5%, and 1% levels, respectively.